Water changes help buildup in nitrates....which if you want to think about it in a different light think about it like this: Someone smoking nonstop....which doesnt effect him but the more and more he smokes, the smoke builds up... until he eventually sufficates. Think of your nitrates as smoke. They dont hurt at a low level, but the more built up they become the more it effects the fish. I personally change the water on my tanks every 3-4 days but I have finicky fish. On a normal community tank you can get away with water changes every week or two without a problem.
That personally would be the regiment I would keep (every week) so yes even though everything LOOKS ok that water change needs to be done, because even though the fish look ok there could be problems you dont see.