I've just been told I have intermittent claudication, should I be concerned?

Yes. Time to change. Need to exercise, eat right, quit smoking. Control hypertension and cholesterol. Develope treatment plan with your doctor.
Yes and no. This means that you have blockage in your arteries, which is not necessarily severe enough to require surgery. It is also a marker of hardening of the arteries throughout your body. You should quit smoking, control your cholesterol and blood pressure, and sugar (if you are diabetic). You should be evaluated by a vascular surgeon to see whether anything else needs to be done.