Sorry you're feeling down. It's disappointing when you have to change your plans because of injury. And it sounds like you're in a fair amount of pain, which doesn't help matters much.
You've got what sounds like a fairly straightforward diagnosis and plan of action. You might feel a bit more in control of the situation once you've started to see your PT and they have given you your marching orders. A little warning -- PT exercises can be really boring. Do them anyway! There are no shortcuts.
Did the Dr. at least talk to you about treating the inflammation with R.I.C.E.?
2014 Bobbin Bramble / Brooks B67
2008 Rodriguez Rainier Mirage / Terry Butterfly Tri Gel
2007 Dahon Speed Pro TT / Biologic Velvet