Most men find that hormone therapy is effective.
Two men I know have done well on hormone treatment. Although their PSA when diagnosed was not as high as yours, it reduced down to under 1 in both cases. They both still lead an active lifestyle: it's important to remain as active as possible, which I know is sometimes easier said than done.
I strongly suggest you read the book "Beating Prostate Cancer: Hormonal Therapy & Diet" by Dr Charles Myers who has used this treatment for his own PC some years ago and for many of his patients since. He provides several of his case studies, including men with PSA readings of between 1000 and 4000. His book provides a wealth of information on the treatment, lifestyle changes, diet, supplements etc.
A common theory is that hormone treatment will only be effective for a short period. This isn't necessarily the case. Dr Myers contends that the treatment can often be effective for longer than many think, and that most men diagnosed as hormone resistant acutally are not. As Dr Myers says, that translates into prolonged survival and quality of life.
Having said that, like most things with PC no one really knows for sure how long we might have or how effective any treatment is going to be.
A lot of men who have used various treatments, including hormone treatment have posted thier stories on the "yananow" site. Look under "mentors experiences" where you can locate their information grouped under the various treatments used. Most of the men there will be happy to answer any specific questions you might have.