4.e3? doesn't look very strong. When I encounter this variation, I playe the 4.Nf3 line.
Albin Counter Gambit: Lasker's Trap
@Ripper89 after 8.Nf3 stockfish gives +0.3, looks like the position is equal. So I guess this means not playing 5. Bd2 dxe3, white has not fallen for the trap.
4. e3?! and 5. Bd2?! are inaccuracies. However, the final position after 8. Qf3 or 8. Nf3 is evaluated at approx. -0.4. So, the game can be continued.
http://www.youtube.com/watch?v=cKXMzdu7ix0&feature=rec-HM-fresh+div