Actually, the game you posted was correctly drawn, presuming black ran out of time. Sure, black had sufficient material, but white did not; that is what matters in this particular game.
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http://www.chess.com/livechess/game.html?id=86458761
Pretty often we run into Insufficent Material draws in games playing bullet when there is still material to win, the above game is an example but any of the bullet drawn games i have are almost all insufficent material draws when there is adequate material to mate still remaining on the board.
feedback on this?