Hello jNew. Good questions and now that you are sensitized to the issues you must continue the research. The John-Hopkins website has alot of info and also has a "White Paper" that candidly addresses many of the threshold questions that you will be asking. Also there are a few books that help in decision making including one by Hopkins surgeon Patrick Walsh. Frankly, the position that you are in is hard because it is scary and you don't know which way to turn if you are like me. Painful as it was, I read everything that I could (so did my wife which was very helpful) and we then at least had a baseline of knowledge and had good questions to ask the docs. There is also alot of crap on the internet regarding treatments so you must review credible information from credible sources.
Based on what you numbers are, it appears that your doc is suggesting "wait and watch" which will be maddening until the next test. If the PSA continues to rise, the next step is a biopsy. Some experts believe that a doubling of the PSA w/in a year or 18 months is significant cause for a biopsy. The state of the art in diagnosing the cancer and then in classifying it as aggressive or not as advanced as we would like. In making decisions to test and what treatment to pursue if you are affected, there are numerous variables including the lab results, age and fitness, along with other medical issues that you may have. The only way to walk through the matrix is to educate yourself.
Best wishes,
TeddyG