On timing for a possible return, just one case and not necessarily entirely the same but Michael Morse had a similar injury five years ago. He fully recovered from it (at a younger age) but lost a lot of time. This from his wikipedia page:
"After playing only 5 games in 2008, Morse suffered a torn labrum diving for a ball against the Los Angeles Angels of Anaheim; he had surgery to repair it and missed the rest of the season."