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How do you feel when this power exchange takes place?
That all depends on who and how the exchange is taking place. Ive been on the receiving end of consensual and non-consensual activities before that were fun and Ive experienced kinds that make one wish they were dead. The kind of submission they invoke varies accordingly.
Is the exchange there all the time or is it there solely in role play.
Again that depends on a number of other factors but it's there as long as it is, no more, no less, some people will always hold dominion over me in one way or another and others can be described as fleeting at best.
What are the raw sensations when dominating, or being dominated? Or is this just too personal to answer?
It depends, when I'm topping another of my sex I must admit receiving some small satisfaction especially if it helps keep the faith with those who helped me earn my own stripes so to speak IE: if it helps further one of my potential sisters to following the path then it is good in my eyes. Personally however; character flaw or not, I feel dominating males to be repugnant even if on a clinical level I do not fault them for not being up to the task of keeping me in my place so I have a tendency to treat them differently.
When I am being handled properly I don't think about consent it just happens. Depending upon whats required of me, the situation and people involved I may simultaneously experience fear, fascination, lust, revulsion, humiliation, pride, or any other number of emotional responses. My focus goes to one thing and one thing only (being utterly pleasing) once I get past that dual maelstrom of thrilling turmoil. Reaching a sensation of helplessness is one of the critical steps on that path for me and when I manage to conquer my fear and surrender to my fate whatever it may be I find myself somewhat in a state of what I can only describe as serenity.
The reason for asking this question is that some of you know I write both Fem/Dom and Male/Dom books, but I have to know the feelings of other people in certain circumstances for the story to look real to life.
To better help with that sort of endeavor I would have to have much more specific situational parameters available.