Some transmen love other men, and some love women. Having been attracted to, and loved women my whole life, I can't quite imagine testosterone changing that, although I guess it's vaguely possible.
Anyway, what that means is that the external world will see me, when I'm out with a woman, as a straight man. And in fact, many transmen consider themselves straight.
But I can't do it. I can't for the life of me call myself straight. It just doesn't make any sense to me. I've lived my life in queer spaces and places for too long to do that. I don't want to take anything away from transmen who feel that way - if they feel straight, more power to them. I just can't embrace it.
And, that said, I also know that I will inherit heterosexual privilege at the same time as I'm gaining male privilege. But, as I eventually intend to be as out about being trans as I am now about being queer, those privileges are pretty tenuous. (And male privilege for black men is tenuous in it's own way.)
One of the things I'm very aware of is a loss of community with queer women. But thankfully, I'm gaining a new community in the process, which is making me happy.