The soundness is the foremost issue for this gambit. What else could be more important? Personally I would never play an opening that I thought allowed my opponent to forcibly win against me with correct play, outside blitz. When I find holes in an opening I play, I devote all my resources to fixing those holes or I drop the opening (much like I dropped the Huebsch).
For someone who investigates the BDG for the first time, they can get a dire picture of this gambit. For starters there are no champions of this opening. It's a pretty bad sign when the IMs and GMs who wrote books on the opening (Andrew Martin, Gary Lane, Scheerer) don't even believe in the opening. No strong player uses this opening as their primary answer against rivals.
The advocates of the opening, while there are decent numbers of them, are mostly not playes of great import. If this is such a good opening, as some would have you believe, why are none of these people IMs or GMs yet?
On the flip side, De Bouver's blog, The Final Theory of Chess, Stefan Buecker's analysis, the rest of ChessPub's analysis, and one's own homebrewed analysis seem to make a reasonable case that White can maybe hold the draw against the most resolute Black defenses.
Example: White's long-term compensation against the Teichmann Defense.
So there are two very different stories surrounding this gambit. I saw this conversation crop up on the front page and I thought it'd be interesting to have here. What are everyone's thoughts on this debate? How sound do you all think the gambit is? Is the Ziegler defense a refutation? If the gambit works why does it have such a negative reputation? I have my own thoughts, which I'll post later. I'm curious what everyone else thinks though.