Personally I wouldn't ... Dd was v keen on one school but she'd have had to get the bus at 7:20 every day (10 min walk to bus stop) and then go all round the houses on the school bus route in order to get to school at 8:15
Coming back, she would have been dependent on the bus so staying late for rehearsals, sports fixtures etc would have been tricky. Public transport wouldn't have been an option ( no direct route, would have needed bus, train, bus combination) and I was also concerned how it would affect her socially if most of her friends lived in the opposite direction but equally far from school ...
In the end we decided not to apply even though dd loved the school (was her absolute favourite of all the ones we looked at). One of my dc can walk to school and the amount of stress that saves is worth an awful lot!