G'day cammas,
I've worked in out patient rehab for many years and rehab'd a few hundred hips and a lot more knees, I am also coming towards the end of a PhD which I am investigating improving outcomes following joint replacement.
I think that waiting until the last possible point to have the replacement is a bad choice, have it ASAP.
Why? the longer you wait the worse off you are for several reasons, you'll have significant alterations to your gait pattern, typically with the contra lateral limb excessively loaded, this results in a very high chance of developing osteoarthritis in that leg, particularly the knee.
Secondly, pain is a noxious stimulus for the body, it results in the inhibition of muscle activation, so your brain effectively stops using those muscles around the area where the pain is, resulting in the above point. But more importantly it is a bilateral effect, both legs are inhibited, not just the bad hip. This again compounds with the above point, your 'good' leg is under increased loading, but at the same time it is getting weaker.
lastly the longer you wait the more muscle mass you will lose (and overall fitness, health and quality of life), muscle mass is not easy to recover, having the surgery early will reduce the rehab times and get you back you your life and hobbies faster.
Depending on the surgical approach and the surgeons requirements, hip flexon of over 90 degrees is a commonly not allowed as it as a high chance of dislocation, this normally lasts for 3-6 months, sometimes longer. It just depends on what the surgeon states. If this is the case you must not ride a bike in this period! Ask the surgeon upfront, he'll/she'll know best.
Overall, hip replacement surgery is excellent, not particularly painful and being young you should be in the top 5% for recovery time and function post replacement - six months is the standard time, and most older folk pretty much completely plateau at around this period, a young man doing some serious rehab, especially gym based resistance could do a lot better a lot quicker.
. My father had a bilateral hip replacements 30 years ago, cemented approach, has not had a problem since, they'll last him until he carks it.