Is Italia Conti a good acting university or is a school like LAMDA or RADA worth the wait?

Italia Conti does have a rate of success, because it has an agency attached to it. Is it as good in training? No. Will it help you start a career, possibly - at least as good as LAMDA and RADA, especially as nothing is guaranteed in this business. I would start IC this year, but audition again next year and see what happens. A year at IC will obviously improve you for next time round, which might make all the difference.