The only knitted item that I ever block are shawls where the edges curl up if not blocked.
I know that cardigans, jumpers etc ought to be blocked before sewing the seams but have found that if I press lightly with a steam iron, the rolled edges usually flatten sufficiently to make a straight edge.
I have only ever knitted gloves that could be considered as odd shaped items and made those on the round using 4 needles and didn't bother blocking them.
Blocking a garment would ensure that the shape is correct if giving it as a
gift but I wouldn't bother if it was for myself.
Damp socks would not be very comfortable and they would mold to your foot's shape once they have been put on so personally wouldn't bother.