Echo question / mitral valve / SO CONFUSED

Please tell me what you think about this echo report.  I have moderate to severe mitral regurgitation and I'm not too confident that my cardiologist is being assertive enough with the timing of me getting a successful repair.  He wants to see me in approximately 6-7 months for another echo.  I've had mitral valve prolapse since a child and now the leaking of the valve has gotten to the moderate to severe level.  He seems to think I can wait another year or two and I'm not too sure about it.

LVID ed 47.8mm
LVID es 37.7mm
Left atrium 4.4cm
Max MR velocity 507 cm/sec
MR VTI 157cm
MV PISA radius 0.6cm
Ejection fraction 55% - 65% (I CANT UNDERSTAND WHY A RANGE WAS GIVEN AND NOT A SPECIFIC NUMBER)

I had the understanding that EF with moderate to more severe mitral valve regurgitation should be around 65-70.  
I have mild thickening of the mitral valve with moderate valve prolapse involving the middle scallop of the posterior leaflet.  Normal valve leaflet excursion. No stenosis.  The interatrial septum bows from left to right consistent with increased left atrial pressure.  I don't know why he wants to wait if things will most likely worse.  How quickly does this condition deteriorate once it reaches the level its at now. I am 41 years old.