I haven't really read the Ofsted reports in great detail, it has to be said.
I know that an outstanding school will have to be very good to get that rating, but equally that report on our school is 7 years' old now, so not current at all.
I went more on how I felt when I looked round than the report!
But yes, if you've only one school to choose from, and you've not heard awful things about it (which you would in a village) then don't waste your time!