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it's hard to give a definitive answer because psychology is a bit of a pseudoscience really.
it's just a theory some guy came up with to label straight transexuals or 'transbians' with. This theory in no way implies that AGP is just a fetish and not a form of trangenderism.
you have a legit transgenderism if you experience sustained feelings of gender dysphoria throughout your life and have a hard time functioning because of the severe depression that it causes. Your sexual fetishes/desires are irrelevant in this. To me it seems quite natural that a trans person would fantasize about being the woman during sex?
As the majority of people described as having AGP (in the studies, not here) do indeed suffer from severe depression and gender dysphoria then I have to say yes it is real.
If you just like to jack off/have sex whilst whilst wearing womens clothes and experience no dysphoria at all and function just fine as a man then the chances are you are a fetishistic cross dresser, which is itself a mild form of transgenderism but nowhere near strong enough to warrant transitioning.
I also think that each individual has a different psychological composition and that trans feelings affect different people in different ways. let me use gays as an example to show what i mean by this - one gay guy might be loud and proud and comfortable with his homosexuality from a young age and another might be ashamed and embarrased about it, repress his feelings and marry a woman, have kids and all that and then come out when he is 50 and ready to accept it. the first guy is not 'more gay' than the second guy, they just have different personalities that determined how they dealt with it.
but seriously don't listen to my opinion or anyone else on 4chan. Go read the relevant studies on AGP and make up your own mind on what it is.