A couple of years ago I roomed with a really cool guy in college. We were both into sports and working out, so it wasn't unusual for us to each see the other naked. One night back at the room after getting nothing at a dance, we were both taking about how horny we were, and that there were no good looking girls that night. Once in bed, Josh started scratching his crotch, (I could tell by the noise) which gave me an immediate boner. (we were in bunk beds, him on the bottom.) I told him jokingly to stop it or with the sound of pubes I was going to get so horny I'd have to start jerking off. He said that he already had a hardon, so I should do what I had to do, just don't shake the bed. Josh said he never jerked off. I told him he was full of it, and probably didn't even have it 'up' yet. He said to give him my hand, so he could prove it. I said (in a dare so he would do it) that he didn't have the balls to let me touch it. He said to try him.
I reached down to the bottom bunk, and he grabbed my hand and put it on his boner. It was so hot and hard! I pulled back though, and started beating my own. Josh said that wasn't fair, and that since I started him, I should at least finish him off. He said whatever I did for him, he would reciprocate!
I couldn't resist, and dropped to the bottom bunk. He pulled his shorts down, and I SLOWLY stroked him to a really full, hard orgasm. His dick strained just before he came all over my hand, his stomach and chest. I got up and got him some kleenex to wipe up with.
Then, it was my turn. He reached under the waistband of my jockeys, grabbing my dick. He told me to take them off while he did. In about three minutes, I think I had one of the best orgasms of my life, lying on my side, shooting a huge load into his hand and all over both our chests. We did that several times over the next few weeks, eventually working up to doing each other orally. (But that's another day) While we continued over our four years at college, (still with girls at the same time) and never did it after that, I know we had some of the best orgasms of our life, and think we both had the best of both worlds.