Yes I do. The list of benefits is many. The list of negative effects is outweighed by far.
Just wrapping a hive with tar paper is better than nothing but in my opinion insulation is of much greater value. If you only wrap with felt at least you provide a wind barrier and a pocket of air to allow heat retention. The sun will heat the tar paper and give some benefit but days are very short in winter.
Insulation provides a much more stable temperature inside the hive. Im not a expert but I will guess that the harder the bees have to work to keep warm, the sooner they will perish. They also have to eat more and that means they have to poo more. If they are raising brood and have to consume more honey because they are not insulated, the greater the risk that they will become out of reach of honey when a cold snap hits and they are stuck on brood.
I just read a discussion on this forum or another about condensation. I as many are not convinced that condensation is a bad thing in the hive over the winter months. Bees need water to raise brood and when they cant make flights, where will they get it. Brood they raise will die if they dont have water. Finski will be the first one to tell you here about studies done in relation to feeding pollen patties to early before the bees can gather water resulting in dead brood. I have opened hives up as soon as a warm day pops up before the bees have had much time to fly and have found several frames packed full of brood in march. As much water that is needed for this much brood, I dont think it would be possible with the ventilate, ventilate, ventilate attitude preached for the north. I dont think condensation is the problem, its where it builds up and what happens with it when it melts.
Thats my dollars worth. It used to be two cents, but its 2011 and due to inflation of goods, and deflation of currency, I believe its a dollar now, not two cents.