Personally I would pitch the vial without a starter in that size batch of 1.050 beer, as long as it is relatively fresh. I'm sure others will disagree.
When I do make starters, I tend to make them a few days ahead, let them go for 2 days, and crash for a day or two depending on the strain. Some yeasts finish up faster.
I will sometimes pitch when the yeast is active, but only with smaller starters in 5 gallon batches.