It happens all the time, even in SuperGM events... a player in trouble decides to complicate the position with an even more dubious move because his opponent (read: Ivanchuk) has 30 seconds to make 8 moves.
Definitely a real win. You should analyze the game and try to improve your play for the future... but there's nothing wrong with exploiting your opponents inability to manage his own clock.
This is a complicated question, but thought I'd throw out there.
I knew that my opponent was a very slow thinker when making moves. I was playing him quite carefully most of the game, but then noticed a huge time gap difference about 1/2 way through the match (online - 30 minutes).
I made a conscious choice to try to time him down (while still playing the best I could doing so). ....It worked. I won on time.
But, I made a sloppy move or two and was down in material at the end. But I knew that he couldn't take advantage of it very well in time to beat me.
What do you guys think? Is this a "real" win? I've actually been on the opposite end before, where I was playing hard and had found a winning position/attack against someone who beat me on time. On the one hand, I felt great satisfaction that I was ahead. But, I also realized that he may have been purposely trying to beat me on time and not playing his most careful and high-level game. But it's hard to know that, of course. It just makes winning/losing on time "interesting."
I have a few more thoughts, but will ask what people think before adding more.