Personally i prefer to refrain from the exchange for a few reasons: tension in the centre -> now that the tension has released black has easier development the cxd5 move can actually be played in the next few moves so there is no harm to leave the pawn on the board. Of course that does not mean that there is anything wrong with this move!

Former WC Petrosain really liked this move. As it release a lot of tension from the centre. the result was that the game would move into more tranquil water which was Petrosain's forte.

I am not a fan of this move as I feel that black is better to play 4. ...Nd7. I would also play 4. ...Nf6 and 4. ...Bf5

A few comments: Bg7 is very passive which i think transposes to a passive grunfeld (perhaps?) but either way e3 was not really the way to play the position as now your dark squared bishop is hemmed in. Bf4 is more logical as you get the bishop out first then after Bg7 play e3 and we have the exact same position as we get later except the bishop is on a nice pretty square  

Bolle exploit one of the trade offs of play cxd5. The fact that white can not play c3 to defend d4.

So far so good, the black squared bishop is a bit passive but this is fine so far.

hmm, I under stand Re8 -> black wanted e5 and is willing to accept an isolated d pawn for piece activity. Re1 however, seems a little bit unecessary -> at this point you cannot play e4 because the d pawn drops after e4 dxe4 Nxe4 Nxd4 thus i do not think that it is necessary to play this move. Instead perhaps Rc1 anticipating e5 when after dxe the d and c files will be able to be played upon.

I would think Qc2 is more natural.

Okay, this position looks to be inferior for you, but with accurate play i think blacks advantage might pass. Just a thought: perhaps instead of initiating exchanges with 12.Nxe5 perhaps Nd4! was better blockading the d pawn. However, i think that black still retains some advantage due to whites inability to pressure the d pawn. Furthermore, blacks control over the key e4 and c4 squares are very nice for him.

I would have played Qc2 before Re1. In this opening the Rook is better placed on the d file.

13. Nb5 is to agressive. It gives up your only hope of control in the centre. You need to finish your development.

The situation here looks very even. Maybe White could even claim a slight edge, having the more mobile bishop, though Black's ternure of the open file goes far to offset this.

Too passive, I think. 24.Kf1 or 24.h3 keeps the queen active, whenafter White can consider playing 25.Qe1, with a nasty pin on Black's rook. How about 24.Qe1 at once: is it playable? 24.Qe1 Rc2 - now White can take neither major piece owing to mate being delivered by the survivor, but: 25.Rxe6 fxe6 26.Qxe6ch Kf8 27.Qf6ch Ke8 28.Qh8ch Kd7 29.Qxh7ch with prospects of a draw.

Black has arranged things to obtain as much advantage from the exchange as he could. Black is left with a very active queen to compensate for his rather pedestrian bishop.

There's no other way of saving the pawn. White could try sacrificing it to free the queen from her guard duties by, say 28.h3 Qxa2 29.Qd1, say. The active 29.Qb5 Qa1ch 30.Kh2 Qxd4 31.Qxb7 leaves Black with a passed pawn and a centrally posted queen (which is why I would not recommend 31...Qxf2? 32.Bxd5 Bxd5 33.Qxd5 after which Black will have a very tough job realising his extra pawn). In the present circumstances, though, 28.Qa1 is probably as good as the alternative.