I tore my labrum about 10 years ago when I was 15. Dislocated my shoulder twice, once from diving for a baseball and once the next year hitting the sled at football practice.
Basically, it sucks. It is tough to come back to sports with this 100%, especially after healing and rehabing for a few months, and having muscle atrophy in the upper body.
There is hope though. DO NOT go to a cheaper surgeon, even if it means waiting. Keep it healthy until you can see a specialist who has a good rep and good reccommendations. If you go to a 2nd rate surgeon who doesn't do a good job, especially on a complex joint like the shoulder, you could have pain for the rest of your life.
About 2 years after the surgery I started really lifting again. It's tough starting out as there are imbalances, but if the surgeon does a good job you should be able to get back to around 90% within a couple of years...sooner if you do your rehab right and really work with mobility of the joint. I am really glad I did, because although it still aches once in a while, it could be a lot worse had I not treated it carefully during rehab.
My main points would be to, first, see a QUALITY surgeon, don't rush it. Second would be to stick to your rehab after the surgery like it's your job.
Hope this helped.