I think that happiness along with anxiety relief is the "calmness" most people feel
Really, it is a slow ride.
Differences are best gauged week to week or month to month, not day to day or your to hour.
The first things you notice will likely be related to T being blocked. Physical effects of E will take a bit longer... they usually start with the nipples though, so there's that. Most MTFs are happy to see and feel their nipples activate.