It seems to me like the initiative is worth a lot more, relative to other advantages, as the time control gets faster -- just because being the victim of threats gets harder much faster as time gets shorter. Hence why crazy gambits are sounder in blitz play.
Is this right, do you think?
Also, for fun purposes, an example of a recent blitz game of mine (against a player with almost 200 rating points on me!) meeting this principle. Who needs king safety and all that rot when you have the initiative and it's blitz? :-)
(And yes, I know 20. Bxg4+ would have probably won on the spot, e.g., by 20. ... Nxg4 21. Qxg4+ Qd7 22. Qxd6. But it was 3 0, ok? I didn't see it. :-) And besides, my life is looking pretty damn insecure there down the h file, though probably not enough to make up for the overwhelming material and position, esp. after plunking the queen on g2.)