I owned a 1201FP. Sort of wish I'd kept it. They came in black and green and I had the more attractive green furniture version. It used the Benelli ARMI system and a long tube mag. Could be ghost loaded via a button inside the loading well triggering the shell release. Mine had barley corn+bead sights and a standard stock. It did not support chokes, just a straight cylinder bore. It was a very light tactical shotgun and had vicious recoil even with AA birdshot. Slugs out of the 1201FP were like firing a .416 Rigby from a Ruger No.1 lightweight rifle. Very miserable and punishing recoil with tactical loads. Again, if you ever pick up a 1201 FP you might really be surprised at how light it is.
Bad design components was that the mag tube cap was aluminum with aluminum threads and could be easily ruined by cross threading. Other than that the gun was very similar to an M1S90 only without the Benelli's features like a barrel supporting threaded chokes and a tritium ghost ring sight and elevated front sight post combo. I liked everything about the Beretta 1201 FP except shooting it a lot. Very flinch-inducing shotgun that left big purple bruises on my shoulder that would turn yellow and take almost a week to go away.
A neat thing about the FP1201 is if you're lucky enough to get the original box and documentation, the Italian warranty and proof house certificate is really pretty like a medieval illuminated manuscript. The user manual I got was completely in Italian.
I sold it to a friend and gathered up extra cash to buy a Benelli M1 Super 90 Tactical which I still enjoy. The Benelli M1 is, um, a much tamer and more refined shotgun compared to the FP1201 side by side. Still, I wish I still owned it. If I were to ever find one NIB with all accessories I may be tempted to buy it anyway despite the punishment it inflicted on me.