Dica do dia: Quando usar o it ou this?

For things which you've just mentioned, it does not give any special emphasis.

So Pintorina decided to paint most of the streets throughout the neighborhood pink. It upset the neighbors a bit.

This and that sound more emphatic.

Cfe.

So Pintorina decided to paint most of the streets throughout the neighborhood pink. This/That really upset the neighbors, as you can imagine.

You might think of using this if you have more to say about the new subject of discussion.

Cfe.

So Pintorina decided to paint most of the streets throughout the neighborhood pink. This upset the neighbors so much that they even went to the extent of threatening to kill her, which they unfortunately did. The case came up last week...

It seems to me that that makes your point more dramatic or emphatic than this and it do.

Other forum users may have other opinion of their own. <Oh boy, getting this post together took me forever... phew.>

It - em uma conversa por exemplo, pode ser usado quando algo não está por ali/perto.
Ex: What is it? (Se te falarem uma palavra em outro idioma, e você não intender, e perguntar: "O que é isso?")

This - ao contrário, pode ser usado quando está no local/por perto.
Ex: What is this? This is a wallet. (O que é isto? Isto é uma carteira.)