Octane - Bugger
The old days were a lot harder on applicants from what I have heard. When I joined in '99 my eyesight was VERY borderline but I squeaked through. In '06 (and after a LOT of consultation with the medic and officer board) I had Lasik to bring them up to scratch and I have never looked back. There was no latency or observational period at all. I just took 3 days off and when I returned I had to re sit my visual acuity, which I passed, and it was all good.
Not that it was a huge surprise really as there are several guys that ended up getting specs after joining that are still flying.
I don't think Lasik/Refractive surgery plays as big a part as it used to. There have been many studies done in the US, UK and Aus regarding physiological outcomes under simulated pressurization, night, IR, etc situations and they consensus seems to be that it's not the end of the world
Besides, with the pilot retention schemes in place within the military today and the amount of money spent on training you (and the fact that they are trying to stop you selling your skills paid for by them to an airline) the balance is tipped in the favour of the aircrew.
I say go for it. If you display a high aptitude, something like Lasik shouldn't stop them from grabbing you with both hands.
Good luck mate.