Surgery vs greater disability

After having two surgeries, 3 years later now, my arm is dislocated at the elbow and the metal rod in my arm is wearing out. The doctor has sent me to a specialist who referred with other specialist about what to do. The bone never healed and is still broken, the metal rod is all that's holding it together and the dr. said that the rod will eventually break. The two nerves that control movement of the hand and fingers has previous nerve damage that took physical therapy to get use of my hand, wrist and fingers. With the previous nerve palsy, the dr. is giving me 50% chance of having the nerve damage again which may or may not be permanent. They've decided the best way to control my pain, somewhat, is to take out the old hardware, replace it, do a bone graft and cut off the bone that won't line up at the elbow. Living with a dislocated arm for two-three months now, has been very painful and frustrating but do I want to chance 50% of losing use of my hand and fingers? Do I just live with it as long as I can take it? There are no pain meds to help with this, only an elbow brace to take some of the pressure off of it. I don't know, I guess surgery will be inevitable.