First, drag is a show, shows are about performing, so the prime determent is not how male or female or how much meat your swinging (or not) between your legs, but how entertaining you are (and almost everyone thinks they are entertaining) and how entertaining other people find you (a much, much rarer commodity).
WbW who do drag (at least in SF) are called
Faux Queens, and one of them became rather famous going from doing a gig at ->-bleeped-<-shack to being part of the Scissor Sisters and now is doing some Broadway/Off-Broadway musical based on
Tales of the City. There are lots of FtMs who do drag as guys,
Drag Kings - Elvis, Angus from AC/DC, and Country Singers seem popular.
Two kinds of shows - the MilliVanillie lip-syncing stuck-in-the-corner of some dive bar shows, and the more mainline, up-town shows where the performers do their own vocals. And both are fine, you just need to know which one you are going for. The second though is very, very hard to do.
Oh yeah, how good do you wear the brown lipstick? Because I'm guessing that there are more people who want to do drag than there are slots in the week for performers, which means someone is making decisions about who is - and who is not - performing. And I've yet to encounter a drag show without a really, really super high level of internal bitchiness. It's a show full of people who've always wanted to be a Diva, and now they are getting their chance - and you don't want to be part of that performance, trust me. So for every show there is one big huge ass (usually literally) you're going to have to kiss, and kiss well before you get to walk on that stage.
http://en.wikipedia.org/wiki/Ana_Matronic
