You are the best judge if that message is "accurate"
My impression is that when you see either Service Battery, or Replace Battery, that either mean that the battery may need replacing.
Are you still getting good battery life?
How long can you run your MBAir until you get a "battery low" message?
Have you tried that since you started seeing that message?
This article talks a lot about the 2011 models - showing there's a large range of battery use on one charge.
But, I don't think you need to be concerned, unless you don't get more than about 2 hours of battery use on one charge.
I think less than 1.5 hours means that you need to have the battery replaced very soon. It's just not very useful as a portable if you can't leave your power adapter for very long.
What do you get now for battery life?