Hmmm, reading all of that made me feel like a bit of a veteran... I started HRT in summer 2008, a few months before I hit age 51, and continued stop-go until Sept 2010. It always quickly generated a feeling of interieur calm . However, as I also quickly started seeing breast growth and suffered from a sharp fall off in my physical capacities (mostly due to Spironolactone) that spooked me at first. I was still big into sport at the time and with the sort of tight clothes used for my favorite sport , those budding breasts were immediately very visible.
It is worth noting that when I stopped, after 3 - 4 months each time, everything was pretty well totally reversible.
Since Sept 2010, I have been on HRT fulltime with no interruptions and I already know there will be no going back. Actually, at this stage even if I wanted to (I don't) , it would probably be a problem as, at minimum,I would need to take testosterone to replace what my body no longer produces. Why? Because, to avoid osteoporosis and maybe other health issues, your body needs a sex hormone, whether it be oestrogen or testosterone.
The effects of my HRT have been very visible. My agressivity and libido have dropped off sharply (but not entirely..

) and, last time I checked, June 2012, my testosterone level was low even by cis female standards. I am also far more emotive and not nearly as big into sport. I still do enough to stay slim and in shape but no longer push myself nearly as hard as I used to. The drive is just not there any more. I have also completely lost interest in some quite masculine sports that I used to enjoy watching. It may just be psychological as I assume my female identity more fully all the time, but the fall off in interest sort of sneaked up on me gradually without me even noticing and was definitely not a deliberate choice.
On the physical side, my skin texture has changed quite dramatically, as smooth as any cis female today. Starting from a fairly low density, I also lost all of my body hair and I have had pretty good breast growth, cup size A-B, which I find quite amazing at my age. There has also been some very visble fat redistribution, away from my waist with considerable more on the inside of my thighs.
The real differences only started to show after a year or so and I get the clear impression that I am still changing, especially my breasts which continue to fill out little by little.
My face has also changed a lot but since I also did FFS, apart from the change in skin tone, I really can't say what results from FFS and what results from HRT. The really big changes ie. in bone structure, are obviously from FFS.
A little story from today to finish off with. I still present male at work but a couple of people I trust are aware of my situation. One of these people told me this morning that back in February, during a meeting we were both at, another one of our colleagues whispered to him that he was sure that "I was a woman". My friend didn't know about my story at the time and said no, it couldn't be possible. However the other guy insisted but, unable to imagine the truth, he actually thought I was woman posing as a man! Now that was music to my ears..

Hope that helps.
Donna