generally, drawish with slight winning chances in a endgame. Doesn't matter too much compared to development, piece position and activity, etc.
A pawn-dectomy
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It all depends on the position . . . Keep in mind that just as it's harder to win with less time, it's also harder to hold the draw with less time.
I know that a perfect player can exploit being up a pawn to full advantage, but in a game of limited time, like blitz, with players of limited skill, like most of us, how much of a liability is being down one pawn, generally speaking?