Marc Benford wrote on 06/04/15 at 15:59:00:
Against the move order 3. Nc3 Nf6 4. e3, the move 4...e6 is extremely effective, since White has already committed to playing e3, so White has lost his second option (5. Bg5), White has only one option left: he will need to play 5. Nf3 transposing into a 5. e3 Semi-Slav.
This assumes that somehow it is a victory for black to be able to go into a standard 5.e3 Semi-Slav (plus there must be some at least okay alternative to 5.Nf3), while not counting that white has made it less attrative for black to play standard Slav systems with dxc4 (of course there are still interesting lines such as 4...Bf5 5.cxd5 cxd5 6.Qb3 Nc6).
Marc Benford wrote on 06/04/15 at 15:59:00:
- Against the move order 3. Nf3 Nf6 4. e3, the move 4...e6 is not very effective: it's still 'playable' but it's much weaker than the usual Semi-Slav. It's due to the fact that White now has four options: 5. Nc3, 5. Bd3, 5. Nbd2 and 5. b3. The first option just transposes into a normal 5. e3 Semi-Slav, while the three other options give White an advantage that is even bigger than usual (and they tend to lead to games which are more positional, not sharp and tactical games like in the usual Semi-Slav).
I would agree that white can get a different character of play than in e.g. the Meran Semi-Slav, but even with Nc3+e3+Nf3 played white can choose lines with b3/Qc2 etc. that are reasonably positional. I would not agree that the extra lines that white can play objectively offer white any more of an advantage than the lines after Nc3+e3+Nf3. Do not get me wrong, I like so of the positions you can get from this move order for white, but I do not really believe they are objectively better for white. However, the real downside of 3.Nf3+4.e3 is that 4...Bf5 and 4...Bg4 (without having to play 4...dxc4 first) are reasonable attempts to punish the white move order without an early Nc3. These moves become possible due to the lesser pressure on d5 - you cannot really play 4...Bf5 after e.g. 1.d4 d5 2.c4 c6 3.Nf3 Nf6 4.Nc3, but after 4.e3 it is very good and so is 4...Bg4. GMs obviously still play this for white with the hope of getting an advantage (and Avrukh did recommend it in his GM repetoire #1), but if it were not for these extra options, then this move order would of course be even more popular.
In either case (3.Nc3 or 3.Nf3), once 4.e3 is in 4...g6 also becomes more attractive than when white still has the option to go 5.Bf4 (if both knights had moved).