Win on time. Time management is an essential part of blitz play.
Win on time or resign?

I dont prefer winning on time. I would rather lose it if he is doing better. But your opponent is supposed to mate you in given time. That is the goal of the live games.
Thats being said, if it was me, I wouldn't resign, because if everybody does it, that opponent would never feel a need to learn how to manage his time. By letting him lose on time, you are helping him, showing him his weaknesses. Hopefully he would learn from it.

Hermes3 is absolutely right.Time is part of the game in live chess, online chess and real man-to-man chess.
And time, just like finding a way to have "Perpetual Check" when you are losing the game, is part of the game.

Thanks for the advice you guys! I'm still not very used to the idea of blitz chess, in fact, most of time, I'm the one who is low on time, but I've been doing a lot better with that lately.
I wouldn't resign. Time pressure can cause my opponent to blunder, and I might even win it "properly" then! Time management, and perhaps more importantly, maintaining your composure under time pressure is also important.

Exactly what everyone else said. One way of thinking about it is that there is a good chance that the only reason he is winning is because he has been taking his sweet time on each move.
You choose when you resign but there is no point in resigning because you are trying to be polite. You can resign whenever you want without being impolte; so you may as well not resign and take the win.

time is an essential part of chess play, especially blitz. if someone signs up for a 3 or 5 minute game, i can hardly feel sorry for them if they are winning on the board but lose on time. it' s a three minute chess game, guy - relax.
of course, if someone WANTS to be an honest player full of integrity, he or she can obviously resign and tell the winner that they played well. :)
This is a general question on live chess ettiquette, if you are playing a live game, and you've been obviously beat, but your opponent is about to lose out on time, is it more polite to resign, or to get the win on time? My opinion is that I don't deserve the win, so I usually resign, but what do you guys think is the appropriate thing to do?