Place the Pancetta in a large skillet over medium heat. Cook the Pancetta until crisp and remove it to a paper towel-lined plate for later use.
Add 1-tablespoon olive oil and lower heat to medium-low. When oil shimmers, add the carrots and celery and cook for 2 minutes. Stir often.
Add the onion, stirring often, and cook 2 minutes.
Add the zucchini and yellow squash and cook 2 minutes. Stir often.
Add the garlic, stir and cook 30 seconds more.
Add red pepper flakes, seasoned tomatoes with juice, V8 juice, bay leaf, spinach and chicken broth. Turn heat to medium and bring to a boil.
Add orzo and potatoes and bring the soup back to boil, stirring occasionally.
Reduce heat to low and simmer until orzo is cooked to al denté, about 10 minutes or per pasta package directions.
Add beans and cook 5 minutes or until beans are heated through.
Season to taste, adding salt and pepper as needed.
Ladle into soup bowls and sprinkle with reserved crispy Pancetta, grated Parmesan cheese and chopped fresh basil.
Serve immediately along with slices of toasty Italian bread.