I'm not far enough along to even be close to SRS (Sex Reassignment Surgery), but I think it would be well worth my time to tell you and /u/falkalore what I know about it. rom what I've heard from others who have, it results in a very functional vagina, but is visually not quite the same. It is also worth noting that not all trans women get SRS. Some don't experience a large enough amount of genital dysphoria to justify it for themselves as the recovery requires her to dilate the hole to prevent it from healing shut during the recovery, a process that is excruciatingly painful. Others simply aren't satisfied with the results and would rather wait to see if other options become available with time.

The result of SRS itself doesn't quite look the same because of how it's constructed, but it's not too terribly off, and is very functional. They basically separate out the head, shaft, and parts of the urethra and use them to construct the clitoris, vaginal walls, urethra, and self-lubrication respectively. The structure is anchored to the back of the hip to imitate the way female connection tissue holds a vagina in place during intercourse. The scrotum is typically used to construct the labia. Though the result is self lubricating, it is not self cleaning and should be washed out to prevent infection.

The general consensus I've heard is that, while the recovery is brutal, the sex afterwords is incredible for both parties.