Yep.
T is known for increasing the number of red blood cells per unit of blood so you may carry more oxygen to cells, meaning this might be why you're less out of breath for the same exercises. (Although my hematocrit shows no change, last check).
Less painful - yes. Can't stress this enough, my joints are definitely stronger and do not feel the same amount of pain they did before T when using weights. Cartilage may enhance on T, giving this effect I guess. I am not sure if bones change, but male bones and joints are known for being a bit more robust.
Energy levels are improved as well. Which means I can do more exercise and get better results from it.
I noticed in general on a low dose of T my arm/trap muscles were just increasing in size on their own. I didn't expect that, as I wasn't exercising at the time of starting. My legs are a bit better too - when I go walk all over the cliffs around here I was sore as hell after pre-T because I typically don't do it every single day. After T the "sore muscles" issue next day following a workout the body didn't expect is almost unnoticeable. Which is awesome. Before I'd be mewling just getting up after a hard slog after the pain sets in, and it would last for days. Not anymore.
It's just all round better.
Should mention I used to develop a weird back pain while sleeping that is now gone since T.
The only problem I do have is that I haven't been working out consistently, so my stamina still sucks. But I've been slowly increasing what I do. I'm sure prior to T I was in real bad physical shape - not to look at, but inside due to my hormone levels being universally low. T seems to have helped put me back on the list of the living.
I hate running and jogging in general but I will take it up shortly.