Haven't visited Gianni e Maria, so I can't comment on it. It does look the part from the outside. They certinaly have lots of tablecloths, if that's an indication.
In the area, I like the old school friendly Italian food at the Big Ragu at Lansdowne, but their menu probably has too much pizza and pasta. The side patio at Regal Heights is quite nice and inside it has an old refinished interior. It feels very bistroy and has an appropriate menu. Possibly your best bet between Bathurst and Dufferin for a romantic evening.
Ferro has surprisingly good sandwiches for lunch. Neither it nor its sister the Rushton would win a "most romantic restaurant" contest though--too modern, too bustling and sometimes too loud.
Be advised that this weekend they close St Clair between Dufferin and Lansdowne for the street fair. And if Italy wins the soccer on Sunday the whole area will be a zoo. Mind you, it may be a zoo even if they lose.