12 yrs after starting HRT and 10 yrs being post-op with very little T, I have a great sex drive and I honestly don't remember it being that different relative to before HRT. I was always quite a sexual person. For me, E appears to stimulate my sex drive to the same extent as T did but I have often been on moderate-high doses on E too. Some women find their sex drive increases with bio-identical progesterone, I've noticed this on occasion, but it can also have the opposite effect on me, as well.
Ernst Schering Found Symp Proc. 2006;(1):45-67.
"estrogen deficiency results in a spectrum of symptoms. These include loss of fertility and libido in both males and females"
In line with my personal experience.