In a small bowl combine dried tomatoes and enough boiling water to cover. Let stand for 10 minutes; drain. Place tomatoes in a food processor; cover and process until finely chopped. (Or finely chop tomatoes by hand.)
Meanwhile, split Italian loaf in half horizontally. Remove some soft bread from the bottom half of the loaf, leaving a 1/2-inch-thick shell.
Spread cream cheese on cut sides of both bread halves. Spread top half with finely chopped tomatoes and bottom half with pesto. On bottom half layer provolone cheese, salami, banana pepper, and red onion. Replace top half of loaf, spread side down.
Slice loaf crosswise into six sandwiches. If desired, spear a pickled pepper and/or an olive on a long toothpick; insert through each sandwich.