I’ve been letting mine go for close to a year and a half now. It doesn’t really make me look more feminine. The wig is still better for that. Maybe when it gets longer, but I don’t know if it will compare. I’m not losing hair, it isn’t receding (at least not very quickly) but I do have a fairly strong widows peak when it’s cut short. I just look like a guy with long hair.
I would say if you’re thinking about it, give it a try. Be patient, but don’t think it’s going to be magical. It hasn’t been for me, yet. It’s still fun though.