One of the paving contractors who came to give me an estimate on concrete or asphalt also does tar & chip, or what he refers to as "oil & chip" ... just did two driveways up in Rumson. He did not recommend it for our drive, however, because we have a turn-off for a second car and he said the constant turning there would likely cause excessive wear in spot.

I, too, have had some second thoughts (though I still like the look) and think the exposed aggregate can give a somewhat similar look with better adhesion of the topmost layer. More pricey, though.

He doesn't travel far, but if anyone would like contact information for the contractor I spoke with here in Monmouth County who does tar & chip, email me and I'll provide it ... though I'll ask you to do your own reference-checking.