BM isn't that necessary to solo old content BUT it is very useful and helpful. If you use BM spec and a tenacity pet (bears and boars, for example), your pet literally becomes your personal full-fledged tank. It also holds aggro better. I've solo'ed old content on my hunter using BM and MM specs at separate times and BM is way better, in my opinion.
I use MM for PVE (dungeons). I've never tried SV spec yet but a friend of mine has a SV hunter and he claims SV is the best all-purpose hunter spec, is great in raids, and is good for PVPing as well. If this is the case, perhaps try having BM and SV as your dual specs? You'd be a well-rounded hunter this way.
Hope this helps you in some way. Good luck and have fun!