I had an orchiectomy back in the day, and yes there were advantages and disadvantages.
The advantages:
1. I was able to decrease the dosages of Estrogen I was taking.
2. The masculinizing effects of Testosterone were halted, nipped in the bud as it were There was also a resultant feminizing effect, in the skin, hips, etc.
3. Tucking became so, so, much easier.
4. No more involuntary or early morning erections thus no "sword fights" with my boyfriends.
5. The ability to "have orgasms" multiple times, in a short period of time. How, physiologically, I still don't know. I did not ejaculate though.
6. A sense of accomplishment that I was getting to my goal.
The disadvantages:
1. When I did have my GRS a few years later, my scrotal and penile tissue, had atrophied somewhat, they had shrunk. I was faced with either the sigmoid colon, or penile inversion with grafting techniques for GRS.
For a variety of reasons I went with the penile inversion with grafting. As a result I have quite adequate depth. Now, I dont boink "Long John Holmes , but if I position myself correctly, everybody is happy, not that there are a lot of "everybodys".
What would I have done differently: I would have had the GRS sooner. And I would have played with myself more to keep the tissue from shrinking.