Sure.
I don't think you're quite understanding what that last decimal place is for, let me explain...
OS X (the 'X' stands for "10", as in roman numeral 10) gets a point upgrade each time a major revision is released. 10.3 is Jaguar, 10.4 is Tiger, 10.5 is Leopard, 10.6 is Snow Leopard. Each major release is a pay-for upgrade.
Everything after the major release number is a minor revision. These are roughly equivalent to "service packs" under Windows. Those minor revisions don't usually contain feature upgrades, but usually bug fixes and security updates.
So - it doesn't matter whether the disc is 10.5.0, 10.5.2, 10.5.6 or any other minor revision - you can instantly upgrade to the latest using Software Update.