My Father was diagnosed w/ prostate cancer in July 1995. He probably had it much longer - but that is when they started with the PSA testing. He ONLY did horomonal therapy - he was 73 upon diagnosis and the Doctors thoughts were - at your age w/ your array of medicial issues something else will get you 1st.
Upon diagnosis his PSA levels were in the mid 70's. Hormone therapy via medication (pills) held the levels below 4.0 for 6 years. Then the levels started to rise to 19 and Lupron injections (hormonal) were started every 4 months. This again dropped the PSA for 2 years to under 4.0. Then the following 2 years his PSA levels began to elevate - in the 100's - 200's for about 2 years.
Oncologist suggested chemo - but that is NOT a cure for prostate cancer - ONLY will extend life. At that time my Father was 80/81 and still felt pretty good - able to get around etc. October of 2004 - he found out it spread to the bones and lungs - PSA level with 3580 - given 1 week to live - and lived until June 3, 2005.
In my experience a PSA level of 3.0 is ok - they always said under 4.0 they did NOT worry about. However - I believe that hormonal therapy is GREAT and can kept the cancer at bay for quite some time. Eventually you must know that the cancer gets smart enough and becomes hormone refractory - which then it will no longer respond to that type of treatment. I "think" most hormonal therapy will respond for a few years at least - I know someone who had good response for 15 year - my Father had 8 really good years - hormonal therapy - can make you grumpy - your breast will grow - you can become impotent - so it does have its side effects.
I think the BEST treatment for prostate cancer - is to get it removed - and use radiation seeds - but my Father was NOT a candiate for that - because of a blood disorder and severe heart disease. Funny they thought the heart would get him first - but it didn't. He lasted until 12 days before his 83rd birthday. He did a good job.
Talk to the Doctor - and see what he thinks the BEST approach is. The PSA levels could also be rising just due to an infection (prostritis is one) - that can elevate the levels and have NOTHING to do w/ the cancer.
Good luck to you - and God Bless.