From the dates you give, it seems you are correct and that you do not qualify.
All your Italian-born relatives naturalized before their children were born, and therein lies the problem.
It's three years of Italian residence that will get you your citizenship.
Just do a quick check of the date of your great-grandfather's naturalization. Was he actually naturalized in 1907 or did he just complete a petition? Your grandfather (on your mom's side) was born in 1912, and it takes a minimum of five years from petition to actual naturalization.