Closed Giuoco Piano: Boi's variation: Staunton gambit

 5...Bb6 is the correct move (Center Holding variation). 5...exd4 appeared first in the game Scovara-Boi (1575):

http://www.chessgames.com/perl/chessgame?gid=1336314

The gambit 6. O-O was played by Staunton in 1843:

https://www.chess.com/games/view/165

It turns out that white has a considerable positional advantage. Could U substantiate it and definitely refute 5...exd4 ?

i think you should just play 6.0-0 and ask black why he has a queen on e7 of all places but the strange queenplacement i dont think its enough to refute anything.  think 5...exd4 makes sence its thematical for italian games in general

Yes, the main line is 4...Nf6 and not 4...Qe7. Now, turning back to our position, engines evaluate it at +0.6/+1.0, especially if black accepts the gambit and play 6...dxc3. So this whole line should be refutable by Staunton's gambit.

6. 0-0 dxc3 (otherwise cxd4 and white is better) 7. Nxc3 Nf6 8. Nd5

There are also 2 early (1575) Polerio's games:

http://www.chessgames.com/perl/chessgame?gid=1336258

http://www.chessgames.com/perl/chessgame?gid=1336257

within the Center Holding variation.

So, we can call it Closed Giuoco Piano: Center Holding: Polerio Variation. 7...Nf6 is better than 7...f6 that appeared in Busnardo - NN game (1575):

http://www.chessgames.com/perl/chessgame?gid=1336233

the idea behind Qe7 is to close the position, holding e5. So exd4 doesnt make any sense here, it almost lost because black will have problem with his queen...

Nowadays, strong players don't play Qe7.

Personnally, i like white's idea to play d5-d6 when black's pieces are suffocating. An example i played in a blitz game (there are some mistakes of course, but it just gives a picture about black's difficulties) :

 Playing Bg5 before d5-d6 may be stronger, to hold d5 square, thus black's d pawn will be stuck as black's army.

Who would like to play this kind of position with Black?

Masochists i guess.

IM Poucin: thanks for your insight! 8. d6 is an interesting gambit. I checked it out and it was played the first time in this Chekhover - Poliak game (1938):

https://www.chess.com/games/view/31154

Btw the following position

is called Closed Giuoco Piano: Center Holding: Mestel Variation.

Alekhine's best games book(s) are useful for e4 e5 games especially the first one. For example,  there is a game Alekine v Tarrasch in last line. Explains what both sides trying to do. 

W0w! A great thread! Thanks to all!

I play the Vienna and it's cousin the Bishop's Opening often and if I don't think an early f4 is wise, I'll play Nf3 and transpose in the Giuoco. This closed Giuoco with c3 is transposable from the Bishop's Opening so I'll have to look into this. If d4 doesn't lead to an immediate exchange the option of d5 looks good for White. The variations with the early Qe7 cut of any advantage of a Fried Liver-like attack, but if the gambit in the first diagram is accepted - which Stockfish recommends for Black - there's a lot of things White can do. Stockfish 8 20-ply likes  6,,,dxc3 7 Nxc3 with White rated 0.73 P ahead. That could develop into something like this, where White is looking good.:

MickinMD, thanks for your contribution! 5...exd4?! (correct move: 5...Bb6) and 6...dxc3?! (better moves: 6...d3 or 6...Ne5) are inaccuracies bad for black.

in my opinion 5...exd4 makes sence in that it stops d5 which is not pleasant for black. something like 5...exd4 6-0-0 d3 giving back pawn. of course blacks position isnt pretty nether here or after 5...Bb6 but the queen on e7 is the sinner. exd4 is at least as good as Bb6

 Closed Giuoco Piano: Center Holding variation (with d6). 11...Qg7?? is the critical blunder leading to the nice mate in 3 moves found by Busnardo. The correct move is 11...Nf6 though white should win anyway.