Hi, I can help with some of it but some of it is greek to me too.
Osteophytes are bone spurs and you have them in the medial (inside) and lateral (outside) of the knee with a good bit of joint space narrowing. That means that you have OA and that the space between the femur and tibia is narrowing due to the cartilage wearing out. You have some sort of changes in your medial meniscus (inside of the knee) and a weird signal in the posterior horn of the meniscus (back of the knee).
Moderate joint effusion is simply swelling and you have a plica in the supraatellar bursa. A plica is a piece of tissue, left over from when you were in the womb. Not everyone has them. They can become inflamed and quite painful. Yours is in the surprapatella ( above the kneecap) bursa (a fluid sack above the patella, you have bursa in other places but that is what this one is talking about)
some sort of cyst on the tibia but this section is beyond me, sorry
You have grade 3 and 4 chondromalaysia (softening of the articular cartilage) in the medial compartment ( the inside section of the knee , meaning the lower part of the femur and upper part of the tibia) grade 4 is down to the bone damage. altered bone marrow signal could mean a bone bruise or it could be from the exposed bone of the grade 4 chondro.
The good news is , your MCL, LCL, lateral meniscus (outside meniscus), tendons, ACL, PCL , are all in great shape.
sorry that I could not translate it all. hope this helps some. If you want to learn more about plicas , go to
www.hughston.com. click on education and then click on "what is a plica" It is pretty good in explaining it.
good luck
missy