well i would say have it operated on if u can tolerate approximately 12 months of pain on-and-off and lots of rehab.
i had my shoulder fixed in June and its still giving me grief now but its healing pain... the actual injury pain i was suffering became non-existant immediately after surgery...
u have 2 b prepared to baby it for ages too, i always think "oh i can do that" then i go to do it and its like ouuuuuuuuuch .. gets kinda frustrating after a while... but yeh im just looking forward to there eventually being no pain.
another thing to bear in mind is that itll never go back to 100%... ive lost 20% useage in my arm/shoulder which is now going to be a permanent disability... but i figure 20% loss is better than the 60% loss i did have...
good luck