3 reasons Why "Online Chess" ratings deserves no repsect
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I feel it depends where your strengths lie, take this guy:
http://www.chess.com/forum/view/endgames/nice-mate2?page=1
He's constantly putting up games he's won on bullet showing his great checkmates, I'm sure he wouldn't have got so many of them if his opponent wasn't under time pressure.
Personally I'm terrible with a minute on the clock, I find that I just end up making nothing moves in the hope that my opponent will run out of time first, I don't consider this 'real' chess.