I had multiple issues with my shoulder and ultimately decided to have surgery after trying everything else first.
Instead of repairing the labrum, we elected to do a biceps tenodesis and I've been very happy with the results. My main piece of advice is: Take the post-op PT seriously and continue to do it regularly. It will be excruciating at first, but work through the pain, especially if you want to maintain any kind of flexibility. I'm 6 years post surgery and still do the PT as part of my regular excercise routine.
This is TMI, but wanted to give some background: I was dealing with a torn labrum and extreme arthritis due to synovial osteochondromatosis (little pieces of the shoulder socket lining were breaking off and calcifying). Basically, my shoulder was full of gravel, which eroded away much of the soft tissue. My surgeon removed dozens of deposits and showed me a video he took during the procedure. My shoulder socket looked like a snow globe. Unfortunately, I'll probably need surgery again in a couple decades to remove additional deposits since there isn't a treatment.
Everything Stringfellow Hawke said is spot on. The only thing I'll add: Once I stopped wearing the sling at home, I continued to wear it when out in public for several weeks. People I knew would, by habit, pat me on the shoulder or reach out and grab my hand/arm forgetting that I had surgery. The sling was a visual reminder for people not to mess with it. It also helped remind me to be careful with the arm.