Dawn -
seems I'm full of 2 cents lately
so here's my take on watching and waiting.
It can be a very good option, but IMO you have to be the "right kind" of person to watch and wait.
I know that personally, being the control freak I am, I would have not been a good candidate for watching and waiting. In my case, it would have very quickly changed to "worrying and stressing". I'm the kind of person who deals with things in a very black & white manner and I couldn't have comfortably sat back and done nothing about my AN for any amount of time. In fact, I made my treatment decision and scheduled my surgery about 6 weeks after my diagnosis.
That said, lots of forumites watch and wait and it works well for them.
If you should decide to watch and wait, you should be open-minded enough to change your opinion if your symptoms get worse. Although ANs are typically very slow growing, if you find that your hearing is getting worse, or you are experiencing pain in your face, or headaches, etc., you should re-examine your treatment decision. Basically don't let your symptoms get too far along, because sometimes they can't be reversed through treatment.
Do what is right for you; just make sure you are informed of all your options. As Lacey said, if watch and wait is for you, I'm sure your doctor will make it one of his recommendations.
Jan