Yes. If you were building a new system with a new power supply, a quality 550W unit would be fine. And I don't see four years being long enough time for degradations becoming an issue on a 550W unit with Japanese made 105°C solid capacitors.
However since it IS 4 years old, only 80 Plus rated, and you're probably going to run out of warranty in 1 year, I would recommend buying a new unit (with Bronze efficiency, preferably Gold) in about 1 year. So it's really up to you if you want to buy a new unit now or in 1 year. Also keep in mind that the sooner you upgrade, the better price you can get for your used unit on eBay, for instance.