Recovery time is 6 months after surgery. That is how long it takes the ligaments to heal. That sucks because Love won't be able to work out this summer and we'll lose time with him in training camp to improve the offense.
If Love plays, my main concern is whether or not he will be able to shoot 3-pointers with any accuracy. Also, he is likely to experience a good amount of pain if he wants to keep arm-fighting for rebounds as he usually does.
I'm skeptical of the "can't make the arm worse" claim. But if it is true, then my guess is that we will see Love in the playoffs provided we make it past the Bulls.
I'm skeptical of the 'can't make it worse' claim too. And also, if recovery time is 6 months, he should get the surgery as soon as possible to let him start conditioning and return at a reasonable time next season. If he gets the surgery by May he can definitely be back by the beginning of December. Delay it into late June and he would be more toward the all star break.