Are you in EYFS at the moment? You could take a really good learning journey book from your class as well, that would show loads of evidence of your current practice and give you something to 'talk around'.
I'd be tempted to update it - I was only applying for jobs in 2011 and I'm updating mine before I apply for jobs this year. You'll have things to show that are more up to date than five years ago if standards etc have changed, maybe? Or you could use it to show your own progression through the five years and use it as one of your strengths?
I'd do it just so that I know I've done all I could to get it. It'd r a shame to lose out to someone else just because they had up to date evidence and you don't.
Applying for a new job for the first time in 5 yrs (1 day a week in Eyfs) I have my portfolio from when I went to nqt interviews, but is it worth me tweaking it for this one just in case? Or will I look like a total wally?