I had a TKR 14 months ago today (10-11-12) and am now able to do things i couldn't in the years leading up to making the difficult decision to Just Do It, i.e., ride all day, do hills, hike, even walk more than a mile without pain, swelling and stiffness. A couple of weeks ago i planted >100 tulip bulbs--kneeling in the garden pain free--that had been impossible before. You asked how a replaced knee 'feels;' this is highly subjective and for me, after about a year, i'm noticing it less and less, meaning that it feels more like a 'real' knee all the time.
Some unsolicited advice: do your research about surgeons and find one you're comfortable with and trust, and one for whom knee/hip replacement is a practice specialty. (Let's hope that 'comfort' and 'skill' are found in the same surgeon!) Bonus points if your surgeon is also a cyclist who appreciates what being able to get back on a bike means to you. (I took my first short, tentative ride outside about 7 weeks post-op, but started on a trainer within the first week after surgery as part of physical therapy.) Doing follow-up physical therapy goes without saying and i'm still doing it and probably will forever to maintain strength and flexibility. Good luck; keep in mind the highway sign that says, "Temporary Inconvenience/Permanent Improvement."