OP, I have a tiny galley kitchen and have had a convection toaster oven for the last 7 years or so. It makes lots of stuff, including toast, but it takes a while, and I LOVE toast. I broke down last year and bought a toaster on sale, and the difference between oven toast and toaster toast is substantial. I guess it really depends on how much you love toast, but for excellent toast, I would vote toaster every time.