That said, it doesn't mean Pellaeon was wrong to order the retreat at Bilbringi - or at Endor. History is full of examples of forces losing to much smaller ones due to breakdowns of discipline, order and leadership, and Pellaeon at least knew the situations to be beyond his ability to manage and called off the fight, saving his remaining forces.
P.S. Xizor, that was a thought of Corran's, not Wedge's, and it's possible Corran didn't know about the smugglers joining the fight, which would've changed the firepower balance somewhat. That said, I do think the Imps probably still held a significant advantage in firepower, as the Essential Guide to Warfare gives Thrawn two dozen Star Destroyers, thirty Katana dreadnaughts, and numerous smaller ships against eleven Mon Cals, two Assault Frigates, a Star Destroyer and smaller ships - at least a two to one, perhaps three to one advantage in firepower at the start of the battle, and that advantage was likely not diminished much.