Planning ahead for a 8-10 day trip to Italy (with a few days in Florence, Rome, and Venice). I haven't been back since the downward spiral of the dollar, and I'm curious about what kind of prices I can expect in early September for flights and moderate hotels. Is there a chance I might find prices for airfare and hotels discounted for Fall?

No - September is still high season. You generally won;t find reduced rates until the weather turns bad - usually the end of October.

Also September can be even busier in the cities compared to July/August, as it's peak time for sightseeing and trade fair/conference visitors start returning. Hotels tend to be fuller as well. Make sure you book well in advance.

High season for Italy is now Easter thru the end of Oct. It is called supply and demand.

We went to Italy in early September two years ago. In January I started checking airfares daily and by May I had one I considered reasonable. It was tedious research but it paid off.

I can never predict airfares.

I agree w/Mermaid ...The best thing to do is to track them over time, they will fluctuate somewhat. When you find a fare that you can live with, jump on it.