What does it mean that there is generalized disk/osteophyte complex with more focal central protrusion. this causes effacement of the ventral portion?

YOU HAVE A BACKACHE: From a combination of a disk and arthritic spurs, causing pressure on the cord and the nearby nerve(s) producing spinal stenosis (narrowing) of the spinal canal (trapping the nerves and the cord). Most likely resulting in back pain and leg pain/numbness/tingling in the leg or feet. Urinary/bowel symptoms may be present as well. See your orthopod/spine surgeon.