Sounds like your more than ready to buy Kirks
Plane Talk material. It will clear up a lot of practical music theory questions as well as greatly sharpening your improv skills.
5ths can be handy in writing tunes for chord choices. I think of V chords as one part of The I,IV,V chord progression. I have pretty much memorized them, a simple memonic is all thats needed. Since most tune are written in or a variation of this structure, it can really help you keep track of what's going on in a tune. There have been a couple of posts here about them. Do a search if your interested.