Lumbar MRI need help understanding - I don't understand any of this please help me.?

I am having cronic pain in my low back and legs, I went and had a MRI on 12/1/10 but I don't understand. This is the brief results from the written report from the radiologist. L4-5 mild ligamentum flavum hypertrophy, L5-S1 There is disc dessication and loss of disc height and post operative changes are seen right lamina. There is a 4-5 mm posterolateral protruding disc and spondylosis and milder posterior and posterolateral disc bulging and spondylosis. This results in a moderate right and mild to moderate left lateral recess and foraminial encrochmen. There is intermediate signal in teh right lateral recess adjacent to the disc. A fluid collection centered and the level of S2-3 articulation measuring 2-3 CM in length by 1.3 in width and represents a perinural cyst.