in regards to what you should "feel"....
absolutely nothing. if its working right you wont even notice it at all. it doesnt make any noise or any sudden actions. youll be left wondering if its working at all. but i too am starting to wonder why you bought it... not to be a jerk or anything. i want one for my VTR eventually but its really only a luxury to drop a few tenths of a lap. its not gonna do much on the street. and if you dont really know what its gonna do then why did you shell out the cash?
essentially it will allow you to bang an extra downshift or 2 coming into a corner and not get wheel hop, giving you less engine braking allowing you to hold more corner speed and keep things smooth. it just stops the back wheel from driving the engine on downshifts. but its really only a track weapon and isnt one of the best mods when taking into account performance gained per dollar spent. i woulda put that cash towards a set of forged mag wheels.
the nice thing about a big twin with lots of engine braking is it really teaches you to be smooth on the throttle mid corner. I-4's can be a bit more twitchy on the gas mid corner and get away with it. with a big twin, that can spell certain doom so you get really good at being smoooooooth. slow is smooth and smooth is fast.
either way just tear into your bike and figure it out. it all seems very complicated until you open things up and its not so taboo. you save cash and learn a lot about the workings of your engine. very valuable skills which can help diagnose future problems should they arise.
2004 Hayden SP2: Ohlins Shock, Racetek Fork Internals, OZ Piega Rims, Magura Radial MC, Radial Brake Brackets, Brembo Monoblocks, Brembo Underslung Rear Brake, GPR High Mounts, Woodcraft Rearsets, PC3 USB, Dynojet Quikshifter, Hotbodies Undertail, 520 Chain, SS Lines, Pinch Bolt Res Mount, Keyless Gas Cap & Ignition, Flapper Valve & Soft Rev Eliminated, Rizoma Bar End Mirror.