Mine always always rupture. The first one was misdiagnosed as pelvic inflammatory disease. Apparently they are hard to diagnose. My mother-in-law also had hers misdiagnosed and I know someone else who was told it was her appendix. So if you have severe abdominal pain, be sure to mention your cyst. It might have ruptured. It will confuse you because the pain doesn't necessarily localize to where you think it ought to. It might hurt around your bladder instead of where your ovary is.
If it ruptures, it hurts like the dickens (I nearly passed out from the pain) but you are right, even if it ruptures it's not causing any damage.
It sounds like you are going to keep 1 ovary if you can, that is a good idea. Keep your own hormones for as long as you can. I was 31 when I had my ovary & uterus out. My doc tried to talk me into getting rid of the other non-diseased ovary but I said "if it lasts me even one year, that's one year where I'm not losing bone density (through lack of hormone) or increasing my breast cancer risk (through HRT)." It's been 8 years and it's served me well.
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2009 Trek 7.2FX WSD, brooks Champion Flyer S, commuter bike