I had the surgery a few years before getting into tri. 3 anchors tied together with line to compensate for a torn labrum. I had a history of about a dozen dislocations going back to HS football and decided to finally get the surgery--after sucking it up for 10 years--when I dislocated playing hockey and could not get the shoulder back into its socket (very painful).

Anyway, with PT I got back most of my range of motion, but I gave up all sports except sporadic running for over a year. I still feel a little off when swimming now and then, and I don't dive when playing ultimate frisbee. On the plus side, I have not re-injured going on 6 years now. On the minus side, I'm told my chance of arthritis is very high (which would be true with or without the surgery).

Good luck, take it easy in the pool and on the trails.