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Have you tried viagra or cialis?
Many men have severe ED by the age of 72. Diabetics are even more likely to have trouble. ED medications have been a boon to men in this category and can prolong their sex life, though it rarely gets them back to where they were in their 40s or 50s. Even with the meds (or creams or injections), the sexual response at 72 takes more time and requires a higher level of arousal (and fewer "distractions" such as hygeine issues or performance anxiety, etc). If sex when young is 90% "from the neck up" it is probably 95% or more so in our older years. This may be why the partner you are with and your feelings toward her as well as yourself are probably much more important in terms of acheiving full satisfaction.
Have you seen a urologist to rule out other "organic" factors that might be at play (blood pressure, lipids, liver function. thyroid function, testosterone levels, etc), as well as to discuss other options yet untried?