Do i need to apply latency settings if i dont watch live tv?
I don't think you need, especially that they don't apply to anything but live TV.
Does the cpu/gpu command fix the temp readings?
Unfortunately no. Details on why CPU temperature sensor doesn't work: projects/S905: Delete cputemp by CGarces · Pull Request #5 · kszaq/LibreELEC.tv · GitHub
busydialogdelayms command was removed in the former xbmc 12 is it needed in your builds?
I don't know, this is copied from advancedsettings.xml used by default in LE.
Whilst some improvement has been made with updates, I am now resigned to believe the S905 needs 2gb of ram and 1gb boxes are not worth buying unless you're prepared to reboot every hour during use
I only have 1GB boxes and they can be on for a few days without memory leaks.