I use them interchangeably all the time, with a small variant: I almost never use “Yo”. Just saying “Amo la comida italiana” implies first person singular and is enough to communicate that you’re talking about yourself.
The only situation I can think of where MAAAAAYBE I wouldn’t use them interchangeably is when talking with a romantic partner. “Te amo” feels a bit more serious than “Me encantas”. But even then it’s kind of . I feel that if you’re comfortable enough in your relationship to say “Me encantas”, you’re probably fine saying “Te amo” as well.
Hope this helps