I like the 16 a lot, and regard it as close to optimum for an upland gun. But, ammo can be hard to find, and the selection can be quite limited. Finding a 16 ga load that has top grade components can be a challenge unless one reloads. As for as I know, there's no 16 ga equivalent for the 3dr, 1 1/8 oz, 7 1/2s trap load that serves as a terrific upland load in 12 ga.
In your shoes,I'd probably buy that Ithaca,but I'd have a few 12s around for ammo versatility.