My first flirt with the Gibbens-Weidenhagen gambit was like a Microsoft demo. Everything looks fine but it just doesn't work properly. After just a few moves I had a clear advantage against a decent player. For the price of a g-pawn I had the center, easy development and self-confidence. But then reality crushed in! After a few weak moves I just got outplayed.
Note to self: Openings never replace thinking.
My second and last try with the gambit started bad and then got worse. My opponent played daring active moves and soon I found myself on a position hated by Mr Houdini and with My king as exposed as the king in a well known H.C Andersen story.
Does it make sense to play gambits with long medival double names? Well, why do you play Chess? If your answer is "to have fun" or "to exercise the brain", then why not? The road less travelled will take you to uncharted territory fast where you and your opponent will have to play Chess. What about the first move advantage? I am convinced that experience from playing wild weird stuff will offer a practical advantage. And do not forget the fun factor.