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I just came across this
article from livescience . According to David Ralph, a urologist at the University College London : "This operation can change the life of young men, improving their self-esteem and quality of life and allowing many of them to have sexual intercourse, sometimes for the first time in their life," . Also another hospital in Belgium has performed a similar surgery with positive results too.
However in both cases there are many risks involving infections and other other stuff..
This article is pretty old (december 2004) ,hopefully more advancements will have been made since then..