My conclusion is don't play the gambit.
The Parham Gambit

This is getting very confusing, I made a thread to store all of the lines
http://www.chess.com/forum/view/chess-openings/defences-to-the-parham-attack

I think this is a good final bit of wisdom Do not argue with idiots. they will drag you down to their level and beat you with experience.

You can discuss lines on the defences to Parham Thread. I made it to clear up these confusing lines.
I like Qb3 rather than the immediate Bxf7