I have fun playing blitz -- the games are wild, and the advantage switches sides often and dramatically. I've rescued several games from the jaws of defeat, and so have my opponents.

I wonder if this kind of thing happens in master games where there is reasonably more time to think? Do you know of any famous chess recoveries, where one player blundered/looked about ready to be mated/was down plenty material, but stuck it out and won?

Look games from Mikhail Tal. =) He is maybe the graziest player in chess history, knowing wild attacking player whos strenght is to throw off his opponents pshygologically and then win a knight down. He was almost scary. Some of his sacrafices ween't necessary, and I would say that even most of them were complitely defendable, but his opponen was so scared about Tals vintage attack, that he blundered his chances. Or so I have heard. =)

Tal's games had some amazing moves with what appeared to be chance taking. However, Tal knew exactly what response his move would bring.

Hows this game?

Not actually. I you study Tal's games with the computer, it propably will found nice concrete defences. Tal's power was mostly in it, that when his opponent saw that he saced a piece to gain a fierce attack, his mental statement made suicade. Of course, Tal didn't just give a piece away, he just wanted to attack, even thought he had a weaker position. Attack was what he loved in chess, and he did everything to get that. Try to find some other player would be ready to sac a piece for a unclear attack when winner will win world Champion title or million dollars. Tal was idiot, but that just made him more, wiser. It is pretty hard to explain! =)

Tal was awesome!  I wish I had his psychological skill.

Here's a game I played where I was down heavy material but managed to take back the lead and win: