Yes, there is more than one road. In fact, the very best riding (and tourism) in Newfoundland is found
off of the Trans-Canada highway. The TCH itself is kind of a boring ride.
At the moment, I am riding around a very pleasant loop about the Cape St. George peninsula... Jim made a video about this area last month, and posted it to YouTube, here is the video:
https://www.youtube.com/watch?v=lnsImfRvYTQ
There is a hotel near Cape St. George called "The Inn on the Cape" that offers breakfast & dinner and a room (a HUGE room) for CAD $99 a night, which is practically a gift when compared to typical Newfoundland prices - I'm staying here this evening, and am very happy with it and highly recommend it to others. Here's a link to the hotel website:
http://www.innatthecape.com/ It's about a 2 hour ride after leaving the ferry at Port Aux Basques.
Michael