The road was dug up (milled) last summer and a 20mph speed limit was imposed due to the resulting loose stones. I assumed they were half way through the resurfacing process but after about 2 months they painted road markings and removed the speed limit.
I'm glad I'm not the only person who was baffled by this! I can only assume they ran out of money. Either they viewed the current surface acceptable until more funding arrives, or perhaps the rough terrain dissuades people to drive fast? It's a pain in the arse, literally.