Blitz can be very useful. I used it for the past couple of months to really work on my opening knowledge. But to make it useful I actually had to study the games afterward.
And it seems to be working. Today I played in a USCF tournament, lost to a 2080 in a really good game (I was black), beat a Class C, then beat a 2040 as Black before drawing with a strong class A. In the past few months I've gone up over 200 rating points and much of this is getting stronger in my opening theory.
I've also done correspondence, 15/10, 45/45... the only thing I won't do is bullet because I simply cannot move my mouse fast enough.
Is this form of chess (particularly the really short time duration type) have any bearing on how good one is at "real" chess? How should we view blitz chess and what, if anything, can be gained from it?
(I sometimes get sucked into playing it more than longer chess games, because of work/school time constraints, but I found myself making so many silly mistakes I would probably not make under time pressure and likewise for my opponents. I wonder if it actually fosters bad habits - hurting you in standard chess - rather than good ones?)