--and it sounds like, from the MRI, there is compression of at least two nerve roots. These are the first nerves that go from their spinal cord connections to the rest of the body--in the case of lumbar roots, into the legs and feet--and compression of these can certainly cause pain/parastheses (abnormal sensations--tingling, shoots, what have your) in a number of places in your back and lower limbs.

You nerve root encroachment is apparently due to nice size disc bulges, which is rather common--but at least it does not seem as if the discs are herniated yet; that is, that they have burst at some spot and spilled their jelly-like material into the spinal canal areas.

Both disc bulges and herniations can heal over time, but what kind of treatment you should get may well depend on what your symptoms are. Do you have pain, and/or parastheses, and or motor/problems (weakness, stumbling)? Generally, surgery is not indicated unless more conservative methods fail to relieve symptoms, or there is major motor or autonjomic (bladder/large intestinal/rectal) compromise.

You should likely post on our Spinal Disorders forum for some of the expertise there:

http://neurotalk.psychcentral.com/forum22.html