i dunno, it isnt a turn on for me, but i love a good drag show. and transvestism has other places in a fun and functional society for me. heck ive done drag twice in my life, once as a joke and once semi seriously (as in i shaved and tried to look as female as possible for a 6 ft 300 lb guy lol). lord knows the guys at the local drag club loved the hell out of it.
i can also see the beauty in the "lady boys" as they are called over seas. again, the penis itself is a turn off, but some of them are astouyndingly beautiful. but a linebacker lookin fella in a skirt and bra? nah not my thing at all lol