well, hmmm.
It is hard to compare, it is not equivalent. My clit does not feel like a mini penis. It's like this intense little button, quite a raw feeling which sends lovely fingers of yum through me - but I actually don't like too much direct stimulation of it, it is almost too much. I orgasm just fine (though my meds make it hard). Orgasms feel different, though I don't think I can describe it.
The inside, well it is not that magical. And I don't think it is for most women. But there is something about being ->-bleeped-<-ed by someone, it satisfies something. Now I should add that I am a dyke, though I have slept with a guy, and I have to say I prefer fingers in there over dick. I love being fingered, and if you scoop your fingers up around past the pelvic bone, you can press on a spot, which I think is where your prostate is, and it feels really good and intense to me - especially combined with clit play. Omg - I am just in heaven when that happens.
But everyone is different hun. And surgical techniques vary. Some people become wildly sensitive, and others don't have much at all. But on the balance I think the surgeons techniques are getting rather good, so you have a good chance of a good result. They are definitely much more complex to drive than a penis, and sometimes it can take a bit of practice.
In summary it is like a million times better for me than having a penis, and only part of it is the physical sensation. A lot of it is the mental stuff. Like sticking your penis in someones face is nowhere near as grand as laying your vulva on their lips regardless of how it feels! But yes it does feel really good!