Hi Pete,
Welcome to the forum, we're glad you found us too. Watch and wait is a good time to do some research on various options and symptoms at a comfortable pace. Members on this forum will help you out with any and all questions you may have.
Since your balance issues responded to steroids, there is a decent chance that Motrin (ibuprofen) will help as well. They both suppress inflammation, which often causes symptoms. I found that ibuprofen was helpful for ear pressure and fullness; I haven't had significant balance issues, so I can't really comment on them specifically.
Your question about getting the other side to compensate is interesting. That happens within months after surgery, because surgery will take out the balance nerve on the AN side. Otherwise, though, you can sometimes have disrupted balance nerve function on the AN side that persists, and doesn't really clear up on its own. As you will soon discover is the case with most AN related issues, results vary over a wide range for different patients.
As for exercises, they range from simple head movement routines, to using a Wii Fit (
http://anausa.org/forum/index.php?topic=7919.0), to just recently, stand up paddle board (
http://anausa.org/forum/index.php?topic=8379.0). What are you up for?
I think hearing aid results depend a lot on both your level of hearing, and your word recognition score. They can compensate for low level very well; they are some help, but not as much, for poor word recognition. My hearing is about 50 db down, but I get about 85% word recognition, and my hearing aid is working well for me.
Steve