Jerry,
I had gastric bypass on March 30, 2009 and have lost 100 pounds. Bottom line, if I had to do it over again, I would do it in a snap. I no longer have to take blood pressure and cholesteral meds, I no longer have the pain in my back that I had before, and I am so much more active and happier with myself than before. Yes, you do have to watch what you eat, but for me, what I had to eliminate from my diet were foods that were not good for me in the first place. I don't miss them -- I honestly don't (and I'm talking chocolate, ice cream, sweets of all kinds, fried foods ... I just don't miss them).
My husband had bastric bypass on December 13, 2008 and he has lost 155 pounds. He, too, would do it again in a heartbeat. He can actually run with our grandsons and play with them without hurting or getting out of breath. He is off most of his meds as well, and neither of us had any problems after the surgery. Everyone is different. But one thing we do is go to our support meetings. The feedback and the support you get from these meetings has been a real help to us in making sure we don't fall back into old habits. I would highly recommend that to anyone who decides to have the surgery.
If you have any specific questions about the procedure, first I would suggest going to any pre-surgery classes your doctor might hold, and second, feel free to let me know. I'm happy to answer any questions you might have or give you support before and after.