If you mean the low dose of estradiol, I can't say for sure. I think it improves my mood, but I've taken it ever since I've begun taking cyproterone, and the dose is pretty low. I've had a little bit of hip growth, though, and my face has changed a little. Slight nipple growth.
If you mean the whole treatment, then YES. Getting rid of testosterone and all random erections, and aggressivity, and sweating less, and having less pimples, and having no oily hair, and having less body hair, and being able to live emotions for real, and... There's no end. I just feel more myself. It helps a ton. I no longer feel depressed and hopeless and panicked that my body will worsen all the time. It's basically given me one of the basic foundations required to possibly be happy.
By the way, the low dose of estradiol isn't something I've been wanting. I've just had an imbecile for an endo.