OH yes! I know Norwegians and Dans use it sometimes and so do Swedes, but it is very uncommon. What I mean when I says, a normal person from a pub may not understand that text.
Some of the words used are being used, but very rarely. Like uncommon! It is not that these words are not part of the language anymore, but not just being taught. Hmmm... depends on the area, really. The seniors of Sweden would have a better chance understanding these texts before a modern-day teenager. To be quite honest, dialect or area has a lot to do with the words. As I said in the past, people of Skåne speak a lot different than say a person from Åre or something.
I don't mean to keep picking on the people Skåne. Hehe. I just find their language a bit rough and discusting. Hehe. A bit hard to understand because I don't really speak much to them.
So... it is not that people just cannot understand these texts, but this way of speaking is just uncommon. Not just the words, but the way of speaking as well, the word-order and stuff. I don't know Itailan, so I really don't know much what you're talking about. But what I mean or try to say, is that these texts aren't just "weird" so to say because of the old words, but dialect, the word-order... it's not exactly common Swedish.
Take this for an example!
Hiphopars use a certain form of Swedish called "Rinkeby" or "Rinkebysvenska" to be percise. This is a mix of a lot of different languages - Spanish, Afrian, and a lot of mid-eastern languages goes into this form. This is utterly (to me) just fucking uncomprehendable (not to mention silly). As you would say something like Hallå or Hej, you would say (I think) Sho bre!
This is common, mostly in southern Sweden but largely populated areas like Stockholm and Malmö or Göteborg.
This form is unknown to certain poeple, just like the V-texts are unknown. So you see what I say?