Like Petunia, I went with my company Social Club to see Les Girls in the mid 1970's, and though it was promoted as Drag (actually as an 'All Male Review'), most of the performers were trans, some post op. In those days there was no term transgender, and no official sex status change, so no matter what you did, officially you had to remain sex assigned at birth.
The performers performed more as Vegas style showgirls, and the MC as a bawdy comedian. Drag is more an art form where men give an over the top portrayal of women, usually in a comedic style. While I acknowledge the art and entertainment value of Drag, I believe it unwittingly makes life harder for transitioning trans people. Drag performers crave attention, and are generally what most people imagine all trans people to be like. For this reason I avoid Drag shows, but I do run into Drag at LBGQIA events, and events focussing on transitioning people.
Hugs,
Allie