The same engine was used in the Grande Punto Sporting and Alfa MiTo TB 120. It's also the base engine in the Alfa Giulietta. In the Grande Punto and the MiTo it would've been seen as a quick engine, obviously this will be less in the larger Tipo but those on the Alfa forum that have picked this engine for the Giulietta haven't marked it down despite it being the least powerful engine available.
I would imagine if it's good enough for an Alfa then it'll be fine in the Tipo. It's also more straightforward than the more powerful MultiAir engines which some other Alfa & Fiat models use. I'd give it a try, but unless you're used to a significantly more powerful car I doubt you'd feel short-changed.