Is this necessary, I have wallet version 'v1.0.5.0-g32a928e' and don't seem to have any issues synching ?

"version" : "v1.0.5.0-g32a928e",
...
"blocks" : 5313,
"moneysupply" : 377500.66343488,
...
"proof-of-work" : 2.46028263,
"proof-of-stake" : 0.00024414
...


You're not synced. The blockchain is at 5503 right now.