It certainly wont be a waste of time having the socket upgraded. Your old one has a 'lighning protector' in it. This is a gas-discharge tube that doesn't particularly enjoy the higher broadband frequencies passing through it, especially when the gas starts to 'break down' with age.
Our boffins cottoned onto this ages ago, and now all the lightning protection is carried out in the Telephone Exchange.
It's hard to see on your photo, but its just to the right of the jack where the phone is plugged in, underneath the blue and green wires.