ANSWERS: 1
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It's not quite the same, just a way of setting something off from the rest of the text. It's actually proper usage in some instances. Personally, I like to italicize when I'm quoting someone else, so you know relatively easily which part is mine, and which is taken from another source. Of course, many people are complete idiots when it comes to writing, so if your question concerns abuse of italics, it's pretty common.
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