There's a whole myth about desensitization. Anyone who's done any research knows that this only occurs with piercings THROUGH the clitoris, which should only be attempted by serious body mod lovers. These are rarely done, and most knowledgeable piercers will not even do them if you ask. A piercing through the hood won't have any effect on the sensitivity of the area because it doesn't go through the area filled with all those great nerves.
The only way some people might say that they're more sensitive now, which is how I feel personally, is that you have this extra little chilly metal sensation when someone plays with your clit. It's really wonderful. I'd do it again in the heartbeat and I'm NEVER taking that baby out. Men love it, women love it, I love it! It's aesthetically pleasing, safe, and easy to care for because you don't have to care for it!
Be sure to get the numbing stuff. I've felt a lot of pain, but that split second of pain was INTENSE. However, it was only for a quick split second and done. No pain while healing, even when driving home from Berkeley through the hills. It got twisted a couple times, which is just uncomfortable, but after I've had it for a while, it doesn't twist anymore.
The cool thing about this piercing is that it won't close. I mean, after two years, yeah, maybe it'll be closed up, but leave it out for three months and you can come back to it. It might be smaller and take some probing to get it going again, but it'll still be open. It heals really quickly and acts like an ear piercing. They like to stick around.
Source? Well, I have one, and I'm pre-med. I was also really into body mod as a teenager.