Ahh, it's amazing what pain killers can do to us! I just replied to your other post, too.
With a torn meniscus, it depends on where your tear is, but in most cases surgery is really the best option. Most of the meniscus does not have any blood supply so it will not heal once it is torn. The torn piece will likely just continue to cause problems like catching and causing your knee to lock up. It this case the best thing to do is to have the torn piece trimmed. Luckily, the surgery and recovery is very quick, but obviously the long term effects are more of a concern and would probably lead to more problems with your arthritis.
If the tear is on the edge that does have blood supply, there is a chance it could heal on its own but I'm not sure how successful that would be. If the conditions are right, they can do a repair instead of a meniscectomy. This is good since you get to keep the meniscus, though it's a much longer recovery.
There I go again, babbling on and on, probalby way more information than you were looking for. Hopefully it at least answered your question. Check out the meniscus section for lots of great info!
And again, best of luck! -Sarah