Yes,once compiled anyone can run the exe. Blitz is not needed. Although bear in mind that you will have to make sure your program can run on various video modes etc.
When you run the exe ensure that debug mode is disabled (unless you require it to be set), that way you should not notice a huge difference in FPS, thats assuming you have some frame limiting code which you will need for most disributable exe's
When you run the exe ensure that debug mode is disabled (unless you require it to be set), that way you should not notice a huge difference in FPS, thats assuming you have some frame limiting code which you will need for most disributable exe's