I am resurrecting this thread because things have moved on and are now very different.
We decided that we didn't want to put her through the trauma of an op at her age after considering everything, advice on here, reading up and speaking to the vet etc.
Then she started limping intermittently and a couple of weeks later stopped using one of her hind legs. Vet thought she may have injured herself slipping on ice, so gave a week of anti-inflammatories and said if no improvement within a week, they wanted her in for xrays.
She was definitely more comfortable on the anti-inflammatories, but still not using her leg. Still happy enough, playing with toys, eating well, being cheeky and enjoying hugs etc.
Dh took her for her follow up appointment this morning, different vet said there was significant swelling on her shin bone reaching from the back, around the front and almost meeting again at the back, so they raced her in there and then for xrays, sedating her on arrival. They said as they had to put her under anyway, they may do the mammary excision at the same time, but it would depend on how things went.
We were expecting to call them between 5 and 6 to discuss what they'd found, but they called us about an hour and a half after we left her, to say she had a significant osteosarcoma-type lesion in her leg, with a lot of bone damage. They said they would referto specialists if we wanted her treated, but it would be up to the specialists if they would be willing to treat and if they did it would definitely mean she would lose her leg.
They offered to do more xrays to look for mets and to fine needle aspirate if we wanted them to, but that they felt even if no mets showed up it would probably only be because they are small at the moment, rather than not present.
They explained that the prognosis even in a younger healthy dog for this type of cancer is only a few months and that as hers is so bad we would be looking at less and asked if we wanted to take the decision to not wake her.
Dh wanted to let her go, but I couldn't do it. We lost my beautiful boxer gsd cross to fibrosarcoma in almost an identical site, under near identical circumstances when ds1 was a few weeks old. He went in for limb removal, had xrays, found multiple secondaries and didn't wake him up. I have never really come to terms with it and he was definitely ready, whereas my girlie is still eating, being cheeky, chasing her toys and enjoying hugs - she's just not ready ... I'm not ready. 
So, we're bringing her home in an hour's time and the vets are going to give her palliative care. I don't want her to be in pain, so she's going to be on tramadol and anti inflammatories, but apparently if she falls on her leg she could fracture it and that would be that. I'm guessing we have a couple of weeks at best. Vet said prognosis with this type of cancer is usually a few months max, but that given the advanced stage it would be much less for her.
I am worried that she will just be zonked out on the tramadol and if she is, we will have to think again about whether or not it's fair to keep her going.
I'm still not 100% sure we're doing the right thing, I don't want her to be in pain or suffer in any way, but I just wasn't able to make that decision in the short time we had because she was still under anaesthetic.
I have just been out and bought her a lovely soft memory foam base for her bed, hoping to make sure she's as comfy as possible.
I am so worried I have done the wrong thing by her for not just letting her go while she was under anaesthetic, but it just didn't feel right at all. All I can do now is hope it was the right thing and be honest with myself about how things progress.
I think I must have been in denial, because I am in shock, actually shaking and so many tears. 
Anyway, just wanted to thank you all again for your advice and support on this thread a few weeks ago and update you to the current situation.