Is parnate (tranylcypromine) effective?

Absolutely: While no med works for everyone, historically maois including Parnate (tranylcypromine) are considered to be the most effective class of antidepressant, as they increase the amounts of all three major neurotransmitters thought to be involved in the treatment of depression. They are often only used when multiple agents have failed, thus they are working against a more difficult to treat illness, tempering this claim.