I always shave down below, and plan on getting electrolysis there.
I don't shave anywhere else except my face (cuz the hairs are still sparse), but there's nothing wrong with shaving the rest of your body. It doesn't make you less of a man, though it may make it harder for people to decipher your gender if you are early in transition, or later in transition it could cause them to presume you may like men since more homosexual and bisexual guys shave their arms and legs compared to hetero guys.
My cisgender male partner likes to shave all over, while I prefer my arms and legs hairy. Neither is really wrong. It's personal preference and even if it makes people think something different about you, it doesn't make you any less of a man. If my uncle shaved his arms and legs, I might be surprised but I would not by any means think of him as less of a guy or more of a girl, cuz he's clearly not. Just like I don't think that girls who leave their arm or leg hair are men. Society may expect them to shave it depending on the culture, but there's not some objective law saying what we should or shouldn't do with our hair.