Yup, me too.
I dont' see any long term effects other than being happy. The fact that we have this option takes the "pressure" off of having to meet someone, or settle for ones with issues, just to get some affection.
As for expectations in the real world, I don't think mine have changed. I had pretty high standards before starting to pay for play and those haven't changed much.
You have to be realistic though and remember that for the most part, these hot young ladies are only doing you for the $$ and to expect civvies to do the same, well, you're fooling yourself (like I said, in most cases).
On a similar note, I realized something about being single in my 40's. When you meet a woman when you're young, she's attractive and over the years, the looks fade. But you have (or should have) a strong relationship to carry you through the years as her looks go downhill. The problem now is if you meet a woman your own age, you missed all her golden years lol and now her boobs are around her waist, and her ass has it's own zip code and she has cottage cheese thighs....oh and you have to deal with ALL the assholes she's met and wed before you. When they're younger, they haven't (hopefully) met that many yet.....