NeuroTalk Support Groups - Hello! New to spinal disorders & Back pain thread

Hello! I've been around on the Thoracic Outlet Syndrome forum for a while but haven't poked around here until lately (Great info in Stickys :D)
I'm 31 and off work (for almost 2 years now) due to tendonitis & TOS symptoms. I have just recently been diagnosed with some underlying degenerative disc disease thrown into my bilateral-repetitive-strain-injuries mix.
A QME doctor had me go do an MRI last month of the cervical spine and it revealed disc bulges at:

Quote:

C4-5 (1-2mm no significant central spinal stenosis),
C5-6 (2-3mm left paracentral disk bulge & mild facet hypertrophy causing mild foraminal narrowing on the left, &
C6-7 (3-4mm right paracentral disk protrusion, which indented the thecal sac.)
There was mild uncovertebral & facet hypertrophy. Findings cause moderate lateral recess stenosis & narrowing bilaterally and a moderate to severe central spine stenosis.
Options for care- Cervical epidural steroid injections

Now I really have no idea what this means but I do know that my treating doc wants me to do traction instead of surgery and I know that the QME doctor says the disc problems are preexisting.

Would anyone care to enlighten me on a coupla questions:

Can disc degeneration be reversed or just slowed down?
What does an cervical epidural steroid shot do?
How much does that hurt???!
Can an MRI definately prove that this was a pre-existing condition rather than a secondary injury of Thoracic Outlet?
And for extra credit: What the heck does the above diagnoses say in layman's terms :o