I was faced with the same dilemma in November, being offered (non-nerve sparing) surgery or hormone and radiotherapy. I spent days reading up on both options, doing research, asking questions and speaking to people who had undergone wither pathway, including hers on the PCUK Forum.
I found it was important to speak to each specialist oncologist as they gave additional information I did not get at the initial diagnosis. For surgery, I was told there was a 50% chance I would have to go on and have radiotherapy as there was the likelihood of the prostate bed still being infected after surgery.
You also need to take care who you speak to about the side effects of hormone and radiotherapy as the treatments have improved considerably in the last 2-3 years and, generally, people experience less side effects than those undergoing treatment earlier than this.
I concluded that the side effects from a prostatetectomy were highly likely and pretty permanent; I did not like the idea of wearing pads or convenes as this does not suit my naturist lifestyle. OTOH the side effects from hormone and radiotherapy are more or less likely depending on the individual and tend to be temporary. So I opted to take my chances and fingers crossed the side effects will not impact on my life to any great extent.
Three months in after starting on Bicalutamide (for 4 weeks) and Decapeptyl the only side effects (so far) are overheating (3-5 times at night and 1-3 times during the day), dry mouth and muscle ache in left or right arm., all now daily occurances. I can put up with these but may ask GP if there is any medication that can reduce/address the overheating and muscle ache.
Start radiotherapy at the end of March so will know what side effects decide to kick in then.
Good luck with your decision.