Julie,
We've PM'd on this subject, so you already know what I am feeling on this, but for others, and to add to this conversation, here is my two penn'orth.
I've been x-dressing since the age of about 12 and that was not far off 60 years ago. Not since my mid 20's have I considered the possibility of being fully TS. Some 7 years ago, I discovered this forum and PM, after a brief trial with Flat-2-Fem, which didn't do anything. My wife was initially fully supportive and encouraging of the PM but after about 2 years she suddenly reversed and became very anti and made me stop. Since then I have been on and off PM in secret. Then just over a month ago, I gave E gel a trial for 1 month, finished earlier this week.
Now, aside from breast growth and a significant reduction in body hair, PM did nothing to outwardly feminise me physically, no increased bum/hips, no regrowth of head hair, etc. What it did do however was significantly reduce my x-dressing drive. I noticed this past month that E seems to do exactly the same ( its too short a time to be certain), an increase in breast sensitivity and a definite drop in x-dressing.
However, with having been on and off PM/E half a dozen times over the years, with exactly the same results each time, it recently dawned on me that x-dressing doesn't actually go completely, it just drops back to me wearing what any woman might wear around the house day-to-day and not the 5" heels, short skirts, full makeup and bling, that I wear from choice when NOT on PM.
You recently asked me what I would say if my wife told me I should take low dose HRT for the rest of my life. My initial reaction was YES but after really thinking about it I changed that to No.
Even during my 4 week trial I found myself thinking about upping the dose from 1mg to 2mg a day and I'm concerned that if I had free access that would accelerate and who know where it might lead. At my time of life, I do not want to risk losing most, if not all, of my family (which is pretty certain on religious grounds) but more importantly, although years ago I could and did go pretty much anywhere 'dressed' with no problems, my face is now aging rapidly and would no longer fool anyone.
Plus, and I do not want offend anyone and this next bit is not aimed at anyone in particular, but it is my opinion from the full transition girls that I've met over many years, that very few are actually happy after transitioning and not many are truly passable even when they think they are, themselves. I am happy being me, as I have been most of my life, and I do not want to risk getting sucked in to a path that will lead me personally to long term unhappiness for a short term, and possibly chemical induced, gain.
We are all different of course and I fully support you and everyone else in doing what you believe is right for you, just as I am doing for me, just be sure you are doing what is actually right, not just what seems a good idea at the time.