I assume you mean chip seal? Tar with crushed gravel on top?
Yeah, 2 years ago they chipsealed every road that I can take from home to work. It's between miserable and completely unrideable for a few weeks, then it slowly gets better. It never gets good, it's always worse than original pavement.
I guess it does extend the life of the pavement by a few years for little cost.
Once it gets beat down by passing cars it's still better than the gravel roads that are my main option (which vary from "not completely horrible" to "get off and walk" depending on how recently they've been graded and how badly they've gotten washboarded by idiots in pickups with bad shocks).
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Work: the 8 hours that separates bike rides.