Blitz is NOT good for learning... it does allow you to practice memorized openings, but you've got to have memorized them in the first place. It allows you to test your tactical vision. It does perhaps train you to focus and think clearly under pressure. But it also actually has some real drawbacks. I think it encourages players to be impatient and to not think as deeply as they need to. A steady diet of Blitz IMHO can make ordinary chess players _worse_.
Slow chess played intently is good. Analyzing your slow chess games after you've played them is also very good to do.
GM David Bronstein said, "Never play at less than game/15." His reasoning was you need at least 5 minutes for the opening, 5 for the middlegame, and 5 for the ending.
When I was first learning openings, my friends and I used 5 minute games to study the openings. We would analyze the games after they were over, up until the point where they became invalid (i.e., mate was overlooked, or a Queen was hanging, etc.) For any other use than that, 5 minute (or less) games are just cotton candy--it may taste sweet, but it has no nutritional value.
Your best is to use three phase approach to improvement--read books, analyze your games (especially your losses), and play. Give about an hour per week each to the first two, and whenever you feel like for the last. But remember that a steady diet of speed chess leads to shallow analysis. Get good at slow chess first--like a muscian, learn the scales first, then work on your speed. But you need to get good first.