You have to allow yourself to have your own experience, as yours may vary a bit from someone elses. That being said, it pretty much just works to relax you by decreasing anxiety. It won't "put you to sleep" like an anesthesia, but it can cause some drowsiness.
It's a great medication to be used "as needed", or as a rescue med, to take when anxiety or panic hits. It's not really suitable for regular, long term use because of issues with tolerance (where a higher dose will be needed to achieve the same effect).
I think you'll be very pleasantly surprised how helpful it can be.
It gets rid of the panic and I take a very small dose. I was given the smallest they make, 0.25 mg, and told to take it only as needed. It worked fine. Then I tried breaking the pill and taking only half. That worked just as well, usually. Some doctors mistakenly give large doses to their patients, perhaps confusing Xanax dosages with those for Valium.
On such a small dose withdrawal seems unlikely. The trick is not to take this sort of stuff on a maintenance basis.
I have been prescribed Xanax for a the last 7 years to help me cope with anxiety/depression/agoraphobia - I am very uncomfortable in social situations, and dealing with people can be very stressful for me. Xanax has helped me overcome this at work, and in life - but know it is a feeling that will ware off, just like any other drug. When you stop taking it, your anxiety returns. It can make you sleepy, but if you need it for your anxiety, you'll most likely not be too effected by it.
Similar to ADD people who take adderall saying they feel normal, and not super hyperactive..because they actually need the adderall unlike a lot of other people who take it to get high.
Xanax has also helped with my sleep, falling asleep faster for longer, it can make waking up difficult (without being grouchy) if you dont get enough sleep.