Glamdring, I don't think so. Not just rules, but the environment they exist in. I guess I'd argue its closer to having real life paintball, and having video game paintball. The latter medium may abide by the same rules, but the experience is changed enough to where no one would say it's real paintball. Kind of a philosophical point; if it can't realistically be replicated in the non-virtual world, can we call it real? Don't know.
Bullet chess can be replicated in teh real world. You could have someone else pressing the clocks or you could have an electronic board that triggers the clock as soon as a piece moves, etc.
Correspondance chess used to be a big thing (well, maybe not 'big', but people who wanted to play chess at a distance would do it) before the internet though. Is that also not "real chess"? Speed is not a factor at all there.
HA HE'S BEEN DELETED!!!
My work here is done.