Absolutely wonderful ride! The road is very much fun, and whenever you take the time to stop and admire the view, it's stunning! It takes quite some time though to go back and forth, especially if you are not in a rush (like many of the local riders seem to be). Be careful about some speed trap here and there (I saw at least one in one of the many little villages you pass through). I made as well a little detour in an artificial lake to grab a bite (Lago di Bilancino).
Exept Passo Futa this road runs through Passo Raticosa too. Really great route specially the part from the top of Futa to top of Raticosa
Done it in a car (sinner). Very twisty and long. Busier near Bologna but gets better and better as you head South along with better scenery. Watch out for crazy Panda drivers and overtakes coming toward you!
Take the S 65 From Bologna south. This is, I believe, one of Ducati's test routes and if you ride it you'll understand why their bikes handle so well. There are plenty of interesting side roads to investigate as well.