I can tell you what I USED to use it for before my motherboard died a year and a half ago:
My setup was:
Amiga 4K, 128 Megs of RAM
PPC processor with extra 060/50
Prelude Sound Card (I think I found the LAST one in the free world)
Cybergraphix video card
Some ethernet card...
I used it to record CDs (I DJ a bit). The prelude had EXCELLENT sound quality with a lot of inputs. I was planning to get into song production, but for some reason Prostation Audio would NOT work properly with my soundcard and AHI.
It sat on my network with 2 PCs and a Sega Dreamcast. I used the amiga as my main machine. I used the windows machines for stuff like... pages that Ibrowse wouldn't load correctly. I also used the PC for a few apps like Money.
I used the dreamcast for games. At that time, it was ALL Phantasy Star Online :-)
All machines were networked and could access each other's hard drives and they shared one printer.
T'was a nice setup, but alas...
-Thorrin