This may be a dumb question, but just wondering, the typical 5 years and then service, does it apply to USAGE of 5 years or MANUFACTURED of 5 years?
Like eg : if a watch is manufactured in 2008, but only bought (fresh from AD) and used in 2012, should it be sent for servicing in 2013?
Answer to the question: 5 years of Manufacture date. Even if the watch is not being used and sitting on the shelf, the oil of the watch may dried up over time, if other problems do not occur first.
Even if you're not facing any issues, a 2 year checkup would be good, just to ensure waterproofing is still ok, as a preventive measure. Spend a bit to save a lot.
However, the above is just a guideline. and as mentioned, only send in for an overhaul when you face a problem after that many years. Some mechanical watches still runs well onto 10 years. Again the same rule applies, preventive rather than corrective. It is generally more expensive to replace parts. This is at your discretion.
On your time reserve, if you wear it everyday, shouldn't be an issue. But if you're losing sleep over it, its worthwhile to send it for a checkup.