garet...to answer your first question, yes the hairs lost due to the shed will grow back. However, if miniaturization is present in any one of those hairs, more than likely they will not regrow. I'm not saying they won't regrow if they're miniaturized, but the chances are slim.
As far as you saying that Proscar and Rogaine make a minor difference, it's different for everyone. Most people take one or both of these products to help PREVENT further loss. The liklihood of actually regrowing hair with Propecia/Proscar is slim but for some, it does cause regrowth. I say give them a try because sitting their and worrying about it certainly won't help things along. Good luck.