I'm a bottom and i'm pierced. I got if for the look of it, but have topped with it too. I like the way it feels for sure! I have noticed that it allows me to go a bit longer as well when it's in during penetrative sex. And a condom fits on just fine.
I really enjoy j/o with it mostly though! There are no issues with skin tearing with medium to large gauges, and no increased risk for STDs known to medicine, other than cleanliness of the needle that pierced you initially.
I've had mine out for over a year at a time too, and unlike most other piercings it will not close alone so you're stuck with two holes to pee out of, so yes it changes the way you pee forever (no hands free).
Oh and I wear a seamless ring, so I don't have to worry about the ring losing it's ball end (done that about 20 times and got tired of it, expensive too). I can get as rough as I'd like with it too. I love that the ring can go round and round in me with no issues of a lage ball blocking at some point. makes cleaning the ring increadibly easy too. No worries of losing anything in anyone or tearing the rubber either... the only catch it unless you have pliers handy when your partner says "no go with that in", then you're stuck with no penetration.