One of the reasons I tried it (bottom) was to see whether it hurts like the women always say. It didn't a bit though my TS was probably only about 6".
Another reason was to see if a TS could, knowing what it's like having a penis, give a better hand or blow job. And in my one experience, the answer is yes.
I consider myself straight in that the thought of a non-feminine looking face with short man hair and hair all over the body really turns me off. I do prefer women but I was also curious about the above. The scene in Bareback Mountain still gives me the shivers. I love boobs and feminine face/hair/smile.