I've been trying to decide about roads as well. Currently, I have a gravel road into the center of the property, and am putting in an additional road (excavated at this point) and ready for fabric and gravel. All the horse farms in the area have put in blacktop. But... I think this is mostly because it is supposed to be 'the best'. The issue I have with it is simply my horses. This concern is also consistent between several Vet friends, 2 of the top Vet surgeons in the land. Both have said that asphalt/blacktop is the cause of many of the horse patients.
Horses will be shod and/or simply spook on the asphalt for some reason, and they have no traction. In fact, the day I brought up my concern, one of them had been fixing a horse who fell that day and broke his leg. Both Vets have gravel only on their farm.
I grew up on gravel, so other than the dust, I have no qualm. But I was thinking about RAP as an upgraded alternative. Not because I want 'inexpensive blacktop' but because I want a good traction road which holds up better and has less dust than gravel.
Some of what I've been reading here is surprising. I kind of expected it would act more like a 'sticky gravel' and less like an asphalt road which breaks down easily. Apparently... that might not be the case and if so, I'd rather have gravel, perhaps with a stabilizer sprayed over it to minimize the dust.