Looks like crap indeed.
Is this really playable?
I don't think it's a very good move. One of the biggest disadvantages is the you lose the option of castling your king early. You also 'waste' two moves within the first ten on just moving your king, I think it would be better spent developing pieces. Overall, I don't think I would play it just to go up one pawn in material.
It was only played 64 out of 975 times in the master database (from 3. .. d5). That's only 6% of the resulting position. Might be interesting to try a tourney with this, to see what good players can do with it...
Black was substantially better, but lost the advantage with 7...Bg4, natural as that move looks. Fritz is saying better was 7...Qe4+.
It might be overall playable for white, but I have no idea why you'd choose to play that.
you know what, i'm going to change my mind and argue that this is playable. i like playing the KG too much to say it sucks! though i despise the FCG...
Well, it probably doesn't give much chance for an advantage (as no line of the Vienna does), but playable? Why not? White doesn't appear to be in serious trouble.
no line of the vienna gives a chance for an advantage!? Joe might have something to say about that ;)
With 3...d5 black is opening a lot of stuff in the center, so it's hard to imagine that white is going to get more in an attack than black. You can't just push a kingside pawn, you need something behind it. It seems sharp, so that can change with a bad move, but I would be willing to put my money on my statement just because of that fact even if some people write books on this opening.
That's called judgment, my friends; beats the hell out of analyzing 15 moves of book 
Naka and Chucky play something and you people debate on whether it's playable? What a laugh. Yeah it's playable...it just requires a LOT more understanding than anyone posting on this thread (including me).
Join the tournament Mountain! 
OK NIven I joined the tourney 
Maybe after this is over, I'll set up an unrated engine tourney with this, to see what Houdini et al makes of this.....
Interesting, yes the entire line is playable although you couldn't tell it from the stem game, Hemppe - Steinitz below. Svidler; however, played it differently with the more modern 7. ... Qe4+. Nakamura, it seems, did some heavy duty homework!
Congratulations to Maxaxo on winning the tournament.
I quick perusal of the results show that this opening is definitely playable as everyone has done nearly as well as white as black. However, if anyone wants to argue that it is not a good opening then they can also find support from the final results which show that most people did slightly better as black than as white; this is obviously the opposite of what we would normally expect.
BTW for those of you who are not English I have been at a football (soccer) game where Millwall fans have chanted that everyone hates us and we don't care! SuperMillwall was definitely one of the better players in the tournament and his playing of a slightly different opening has skewed the results slightly.
Thank you to Tim (Niven42) for organising the tournamant
Philip
I'm talking about move 4 for White.
Nakamura played this twice during the past year, once he drew with Osinchuck, the other he won against a 2300+.
In 2009 Ivanchuk beat Svidler with this. My gut says it's rubbish ..... but Svidler's no patzer.
I'm posting the Naka/Onischuck game: