Not confused at all, as the question I asked addressed both TS & TV's.
Out of curiosity, what is the appeal of punting with a TS/TV?
Still would like an answer to know what the appeal is to those who go for it.
I think you may find part of the answer to your question at the site identified by Jimmyredcap,
External Link/Members OnlyClick on "About", scroll down and click on "Tips For Guys". It's a lengthy piece so I won't attempt to summarise it, but if you're really interested it's definitely worth a read.
It explains the appeal of TS/TVs, but because sexual activity at the club is not allowed, it doesn't explicitly explain the appeal of sex with them. That's difficult to do because what I get out of it might be quite different from what you or anyone else on here gets out of it. First of all, in my opinion sex with a pre-op TS is very different from sex with a TV. (I don't know about sex with post-op TS girls; if I want to fuck a cunt I want a real one, not something cobbled together on the surgeon's operating table).
Sex with a really beautiful TS girl is like being with a woman in so many ways. Mentally, psychologically, she is a woman, and she has most of the physical characteristics of a woman, depending on how far she's got with her transition, use of hormones etc. So she mostly thinks like a woman. She moves and talks like a woman. Her hair, skin and body is like a woman's - skin soft, smooth and hairless. She has tits. They may be surgically enhanced, in which case they'll be exactly like a woman's enhanced tits, the quality of which will depend on the skill of the surgeon, or they may have been created by hormone treatment. But - and it can be a very big but - she still has balls and a cock. Depending on where she is in the transition process, she may not be able to get hard. Or she can get hard but seldom or never cums. Or she gets hard and cums easily. Depending on what you want, you need to find this out in advance. Some are happy to fuck you. Lots won't want to. Most will be happy for you to fuck them, which means anal. And that, I think, is indistinguishable from anal with a woman except that you can play with her cock while you're fucking her. For me, the sexual appeal is that if she's really beautiful, you have all the pleasure of being with a beautiful woman and, in addition, the "taboo" element of doing something that most people probably shy away from or disapprove of, plus the fun to be had with someone else's cock - everything from masturbating to oral to anal on you if you want it. And if you do enjoy anal on you, you will know that once you've had a real cock up you, you will never want a strap-on there again.
As I said earlier, sex with a TV is quite different. Some TVs are incredibly "convincing" and very skilled at playing the role of a woman. But "she'll" be wearing a wig, "she" probably won't want you to remove her bra (because "she's" got no tits) and "she" probably won't want you to remove her stockings/suspender belt or whatever, because if "she" takes all that off and "she's" naked apart from a wig, all you've got is a man in a wig, which rather destroys the illusion that attracted you to "her" in the first place.
In a nutshell, sex with a TS is almost, but not quite, like sex with a woman. And it's the "not quite" that I find exciting and irresistible. While sex with a TV, while it can be smoking hot and brilliant fun (but usually isn't), is at the end of the day, just sex with another man.
So, SamLP, I've done my honest best to answer your question and I hope you find it helpful.
I suppose I must now await a torrent of abuse and accusations of being gay. As I've tried to say earlier in this thread, I really don't mind what label anyone wants to pin on me, including the gay label. I know what I am, I'm happy with it, and I have a hell of a lot of fun. What more could one want?
