Is the meniscus torn at all? If not, I would advise against waiting until after season and trying to barefoot with a brace. I'm not a Dr, and I didn't stay in a Holiday Inn, but a torn ACL sucks and is a very painful procedure and recovery, but once you are through with it, it usually doesn't have lingering effects. Torn meniscus constantly gives people trouble. The knee swells up with fluid after activities. The only treatments are draining the fluid, cortizone shots, and scoping the knee to cut off the loose pieces, which then fray more.
If the meniscus is torn, you still risk tearing it more, which could increase your risk to potential problems down the road. I don't know if you have winter sports or not. I snow ski, so when I tore mine in June, I did surgery right away. Waiting for a down season wasn't an option for me. Plan on 6 months after surgery (minimum), depending on which option you go with and how hard you do PT. I had surgery in July and skied the mountains over Christmas break.
I did the patellar tendon. I didn't tear any meniscus, and my knee never bothers me anymore. It does hurt to kneel on hard surfaces, which is a negative to the patellar tendon option. I've never heard of the patellar tendon option causing knee replacements down the road as drschemel says. Drschemel, do have any weblinks to studies done on that?