First post here, but have over 100 at bb.com.... greetings.
I've done 2 PH cycles. First was last Summer, a combo of BSN's 1-Testabolin (a 1test product) with AST's 4-diol, over an 8 week period. My body weight went from 228-230 up to 243-245. Dramatic strength increases all around. I was very pleased with it but experienced the common 1-test lethargy, mild hair loss, and loss of libido problems at least temporarily.
Second was the Anabol-x / Megabol-x stack available at bb.com by Big Cat, although I doubled the prescribed dosage of. The picture is me weighing in around 252 pounds one morning at the conclusion of the 6-oxo phase. I'm 6'4" and finally was able to get my arms up to 19", nothing huge, but given my ectomorphic tendencies, I was pleased. I thought this was a slightly milder stack, but still offered very good results. No hair loss nor libido loss to speak of, and no lethargy.
My problem of late has been injuries. Completely avulsed my pec major tendon after the Summer cycle (note scar! and yes, I was not able to bench press any substantial weight as I've been in recovery), and then turned around and ruptured my achilles 4 weeks ago playing basketball.... ugh! In both cases, the doctor said there is nothing wrong with my tendons, nothing degenerative. That is a concern of course longer term for anyone using AS, and for tendon purposes, PH's=AS's.
In my 20's I've also used AS's to a degree, and so am fimiliar with the results obtained from those (I'm now 43).
The pec tear was a foolish injury, which came from my being too cocky with too much weight bench pressing. Rather than letting my spotter take the weight off of me, I tried a final blast to get it up and rrrrip. The achilles though, I was just playing basketball, running down court on a fast break and cut fairly hard off my left foot.... and POP. Several people heard it.
Our bodies are all different of course, but one of the concerns doctors have about middle aged guys who do AS is that their muscles get stronger and more quickly than their corresponding tendons. And for we middle-agers, tendons are more brittle. So I obviously need to be a lot smarter about how I'm going to train, and maybe give up the >40 basketball league. I don't know about that though, I can be very hard headed.
Anyway, those are my 2 experiences, your mileage will of course vary.
Train hard, be well.