Of course, here in Italy it's very famous. I'd say nearly a national dish.
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After al it's very cheap, simple to do and tastes good. The drawback will be your breath, but nothing is perfect!
To tell the truth i don't know true recipe (it's a south italian recipe and i'm from north), but the important thing is that you like it. Normally we use annuum because they are our standard peppers (besides, pepper konwledge is a niche thing, and chinense are too strong fo many people), but i have no doubt that habaeros or superhots, as bhut used here, would be better!
Usually it's done with spaghetti, fettuccine should be equally good.
I don't know if there is a region that can claim fatherhood. Wikipedia.it says Campania, wikipedia.en says Abruzzo other sites says other regions claim too, it's an old recipe.
Usually you fry chopped pepper along garlic (wich can be chopped too). You can put parsley at the end. Grated cheese if you want.
The mather of a friend of mine, wich is form Naples (wich is Campania capital), also puts 1 o 2 teaspoons of wheat while frying garlic and peppers (near the end of frying process).
I prefer to bathe chopped garlic and chopped pepper in extravirgin olive oil and not cook them, but it's me.
Pasta is awesome with hot peppers. My main dish is simply to cook pasta (spaghetti) then toss in extravirgin olive oil and chopped fresh pepper (habanero or superhot), fast, simple and satisfying!