second time tearing lateral meniscus

So this is my first post to Knee1 and I have a few questions and concerns which hopefully some of you can answer for me. Let me start out by giving you the background.

In 2000, I got a bucket handel tear to my lateral meniscus in my left knee while playing High school football. I went into sugery and the doctor repaired the meniscus, securing it down using "Arrows". I was on 100% no weight bearing for 8 weeks and had to wear a brace for a few weeks after that. After I was back on my knee, I started having problems immidiattly. My knee would catch and pop, no locking though which I did have post-op, and I had mild pain and swelling. My doctor did a followup MRI and basically told me everything healed and that it was normal pain that I would now have to live with. Over the last 10 years I have iced my knee as needed with the swelling, taking a steady dose of motrin to ease the pain, and have used a knee brace almost daily.

About 4 weeks ago now, I bent my knees beneath me and sat up on them and felt that familiar pop with a knee lock that I had 10 years ago. I knew instantly that the meniscus had retore and had flipped over into the knee joint as before. I went to a new doctor, Dr. Cole in Chicago who is one of the top sports medicine doctors in the US, and had a new MRI done. The MRI shows that I have something definatly wrong with my Meniscus but I am unsure whether it is torn or what. Typically on an MRI you can see a torn meniscus and when it has flipped over on itself. My MRI results showed my meniscus surrounded by fluid both above and below. My doctor told me that basically it seams liek the original repair did not heal to begin with as I had pain for 10 years, and that secondly I will have to have either a Partial or Total Meniscectomy. On top of all of that, I was told that the x-rays and WRI's both show that I have arthritus starting.

I am only 27 years old and am trying to get some information on these procedures. I am scheduled for surgery on December 22nd (Merry Christmas to me) and need to know what to expect.

1: Recovery: What does recovery look like for both the partial and total meniscectomy? Some online sites say you walk out of surgery and are back to 100% within a day or two and others still say it is a week before I will be able to walk and another 2-3 weeks to regain full motion. I just want to know what to expect so I can prepare myself with my job as to how long I am going to be out.

2: Has anybody ever heard or had a "Floating Meniscus"? I know this is a technical term for a meniscus which has completely detached itself from the tibia however I have been unable to locate much documentation on this. I am just curious how other peoples repairs/removals went with a completely detached meniscus.

3: Arthritus: Being only 27 years old, I was not happy when I was told that my knee already had arthritus starting. How long have people been able to go without a meniscus with arthritus already started before they needed a TKR or PKR?

4: Future: What are my new limitations towards activites be once I have lost part or all of my lateral meniscus?

Any help would be great. Thanks.