I have a close CD friend who has been living and working as a woman 24/7 for about 15 years. My friend has had electrolysis to remove her facial hair and has had breast implants. However, she has never had any other surgery and has never taken hormones. Although she has not had a female partner since the nasty divorce that occurred before she decided to live as a woman full time, she remains heterosexual and could still father children. So, the answer to your question is yes, it is possible.
