I would say metformin is the best (byetta is good, but it may increase risk of pancreatitis)- this is because it helps you lose weight. Most type II diabetes gets worse with age, since most people gain weight as they get older.
If you have lost weight, then insulin is the best med, but again, it can cause weight gain.
You can, of course eat any food, but limiting carbohydrate foods is paramount- soda and juice probably are the most 'evil' foods for diabetics