reforming the wheeler gambit

I believe the wheeler gambit to be a weak gambit till a club member of mine showed me a slightly reckless but intriguing line and wanted your analysis on it. 1.e4/Nc6 2.b4/Nxb4 3.d4/d5 4.Ba3/Nc6 5.Bb5/dxe4 6.Bxc6+/bxc6 7.f3 

Intresting

Perhaps the 3.d4 line is OK.  Too many folks play 3.c3 and get in trouble.