My general view: play the board, not the rating.
If the position is drawish anyway, force the draw and be done with it. Or offer a draw first and force it if he doesn't accept. Or if you think your winning chances are good, play on! It depends on your style I guess.
I guess that would depend upon the person with the choice. Is that person a gambler or does that person like to play it safe?
I was in a situation where i was offered a draw, but i declined and i had to tell my opponent that i wasn't good enough to decide. Although i played well enough for my opponent to think it was a draw, i wanted to play it out for the experience. Sure enough, losing can be a great teacher!
How do you respond to the situation where you have a forcable draw on the table against a higher rated player, but still have winning (and losing) chances on the table? Take the draw, or fight on? Even the position is relatively equal.