If you are going from a higher security level to a lower security level, all connections are allowed as long as there is an xlate. So from the inside of the PIX, if there is no outbound access-list, then all traffic will flow. If you do not want all IP traffic to get out to the other interface then you will need to build outbound access-lists.
If you are going from a lower security level to a higher security level, you need to have a conduit or an access-list command to permit the traffic. If not, the traffic will be blocked.
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