It does, but sometimes it's not so much what it feels like not to have one as what it feels like to have something else, if that makes sense. 🙂 Yes, wearing panties without testicles creeping past the elastic edges is great, and so is wearing tight jeans without feeling them crushing stuff. But in the first few weeks the sensations post-op were all so weird and different that I started to lose track of what it was like to have *anything* that wasn't a super tender swollen surgical site... and now it tends to be more about "oh, my crotch is getting weirdly humid and warm again" or "shoot, I think my labia are stuck together" and whatnot. I can feel my labia rubbing slightly when I walk, and I was definitely startled to discover that I now sit right ON my genitalia - as in, can feel it all squish against a chair or bicycle seat, especially if I lean forward - although it's not painful or anything, just odd. And now those tight jeans have a seam that gives me a wicked crotch wedgie instead!
Uh, sorry, not that I'm not thrilled to be shaped correctly; I am. But day to day at 3+ years post-op it's less of an immediate delight unless I actually stop to think about how horrible it all felt before.