I've had both knees done for a torn meniscus, exactly one year apart. Alot depends on the nature and extent of the damage. The first one was just a small corner that had torn loose and was creating the iritation. Three small incisions of 2 stitches each, snip snip, I was out the door about 5 hours after I was admitted. No crutches, pain meds and ibuprofen for 3 days, back to 90% use after 4 weeks.
The second surgery was more difficult. I tore the meniscus laterally, so they had to go in and shave off the loose layer. Same time, same procedure, and this time I skipped the pain meds entirely. But the recovery was longer, and 10 years later, it gives me more discomfort than the other knee, probably because they took out so much more all the way across the surface of the cartilage.
As surgery goes, it is a relatively simple procedure. I was out for both of them, but I do believe you have the option to have a local and watch it on the overhead TV. I preferred to sleep through it.