Militarism wasn't central to Mussolini's beliefs, it was derived...though I admit that the Roman model he used was strongly focused on militarism. The essentials was the binding together of the various interests of the state, as symbolized by the Roman fasces. Militarism was one tool to achieve this, and to allow that combined force to project its power. (Symbolized by the axe within the rods that were bound together.)
That part about syndicates sounds right though. I've got to admit that I don't understand the difference between syndicates and trade unions...unless they are intended to be company specific unions, which have a *very* bad history, and did even then, so I can't believe that he was pushing THAT.
About Mussolini's "moderate racism"... Just about everyone was racist to that extent at that time (with some major exceptions). Read some of the stuff that was being pushed on the public in the US. Hell, read Heinlein's "Fifth Column" or John W. Campbell's "Mightiest Machine". Or look into the history of IQ tests. And at that time there wasn't much hard evidence that race actually was unimportant. (There is now...but it's not totally solid, just essentially solid.)
OTOH, I guess I, also, tend to oversimplify Fascism, and think of it as the corporate state. I doubt that it would have been any better than the corporate state, but it sounds more like a traditional monarchy...without the "divine right of kings", or at least with that strongly backgrounded. Mussolini was a charismatic leader, but it's not clear what the follow on would have been, had that happened. (I wonder what Mao Tse Tung would think of modern China.)