Agree with some of the other statements; "strapon play" can be a few different things. But I think pegging is pretty particular to a woman fucking a man with a strap on. We got a Tom Boi from SpareParts HardWear; it's really comfortable for her.
Pegging is what I prefer. Strap-on can refer to a woman fucking a woman, while pegging is uniquely identified with a woman using a strapon on a man. I have no trouble admitting that I like being pegged. For me it's not entirely about pleasure (honestly, a small vibrator or a vibrating butt plug probably feels better, although I have never been pegged with a vibrating strapon.)
I am very submissive, I love having a woman take control and dominate me. I especially love to have some role reversal too, and have her dress me up as a little slut in panties and stockings (my biggest fantasy is to have a mistress just use me as a dressup doll, putting me in different outfits.) And to me, having a woman peg me is the ultimate form of submission. I love the idea of giving her my ass (or my boy pussy), and having her turn me into her plaything. I've only had the chance to do it twice so far, but I loved both times.