it won't help your chess, chess is a science, and should be studied in order to improve. of course playing is important, but 1 minute games don't usualy develope your understanding of chess, try playing long games you might like it, maybe buy a chess book if you feel you're not making progress, start living the chess life.
1 minute chess

Playing 1-minute chess makes you a better 1-minute chess player. It's not going to help you play better tournament chess. The strategies, tactics, and even opening repertoires that work at 1-minute are different. I won't say it's impossible to practice your openings at 1+0, but even for that I would prefer 5+0 or 2+12.

how do you and your opponent manage to loose all your material
When pieces are loose, you will lose them. 75 moves in 60 seconds is enough to gather all the loose pieces.

It must be very beneficial to your chess skills if you've managed to work out how to win when you only have a king and your opponent has a king and a rook...
i win on time

It must be very beneficial to your chess skills if you've managed to work out how to win when you only have a king and your opponent has a king and a rook...
i win on time
Oh, right. I play a lot of 1 minute and 1/1 games, and they tend to be a mixture of tactics and time control. It's always satisfying when you take that extra second to decide on the best strategic/positional move that then spawns a lot of tactical possibilities, but often it's a guns-a-blazin' kind of affair. These games are good for training a quick comprehension of tactics on the board, but not for anything 'deeper'; for strategy and planning, bullet games are next to useless.
umm yeah it helps you become a fast thinker, after being a fast thinker thats the time you need to improve your moves to a more accurate move,...

As you know time is only relative and one minute can seem an eternity to some, especially when your opponent is fractionally slower. As for me, I am getting older and slower therefore my observed opinion is, that it is a young man's game where the urgency of youth does not cloud one's fear of making a foolish move.
However, there is nothing better for your brain than thinking under pressure, so your speed chess will help to improve brain actvity and your game.
It must be very beneficial to your chess skills if you've managed to work out how to win when you only have a king and your opponent has a king and a rook...