Of course everybody's situation is different, but I think there's a consensus that surgery should be an option only if the pain is debilitating.
I have a bulging L5 for years (and so has the majority of men in their forties, claims my orthopedist). What helps me are exercises for the stomach and core muscles--lots of them. As soon as I get lazy I feel the pain coming back. You have to be careful building up the muscles slowly, but that's easier than a crap shoot surgical intervention.