If its tournament blitz ( both USCF and FIDE ) touch move certainly does apply .
The subtleties of touch move rule

I'd like to ask a question related to this topic:
I've watched a few videos of blitz games between super GMs, and toward the end of each game, when both players only have a few seconds left, I'm almost positive that I've seen a player start to make his move immediately after his opponent has finished making his move, but hasn't hit his clock. Since the games I was watching were official games, I'm sure that this is legal - if I saw correctly. But because the players were moving so fast, I'm not sure if I missed it when one of the players hit his clock. So does anyone know whether it is actually legal?
Here's one of the videos where this happened:
http://www.youtube.com/watch?v=HNX-bY2g_dU

There's a video of the famous blitz game that Carlsen lost to Kosteniuk.
At the end of the game, he picks up his rook and resigns because he grabbed the wrong rook.
http://www.youtube.com/watch?v=WeyXKTVYenA

Stop being friendly and start becoming ruthless. Take my advice, I tell you. :)
Pandas don't mess around...
Schrodingers (of course I know it isn't Schrodinger) and their cats don't mess around...
Fact: the two little dots above the ö are bullet holes.
Blitz games generally don't offer and take draws and touch move doesn't matter in blitz