I pretty much had the same break, except it was up higher at the base of the ball where it attaches to the shoulder. I also dislocated the hell out of my shoulder.
I ended up getting two screws in my arm.
It took me 8 weeks in a sling, and then about 8-12 more weeks doing stretching and lifting to get my arm back up to full strength.
Now every once in awhile i have to pop it otherwise my arm gets uncomfortable, or when i do too many pushups or just use my shoulder too much in general, i need to pop it.
I also dont have the full range of motion that I used to, but its hard to notice.