The proportional arena has been designed as a buffer and corrective for the hard verdicts of the new Italian plurality system. However, the political impact of this arena is much deeper than its purely electoral role. It measures the loadings of single parties within coalitions and, subsequently, influences their interactions and bargaining tactics. The elections of April 1996 clearly show the effects of institutional learning by the different actors involved: voters, coalitions, candidates, etc. The analysis of electoral data shows the following main findings: (a) the remarkable equilibrium between left-wing and right-wing coalitions; (b) the gains made by the left thanks to its better ability to manage alliances with the centre and extreme left; (c) surprisingly little change in voter behaviour between 1994 and 1996, and most of what change there is deriving from vote nationalization. The main features of Italian electoral geography are also confirmed.