Be your own TV studio....
Here's what ya got:
4-input 'switcher' you can do various wipes from one source to another. But keep in mind that the sources need to be 'genlockable'. They must be able to sync up to horizontal, and vertical sync plus the color clock. Most pro cameras do this. If you want to use tape, the tape must be run thru a TBC (time base corrector) to fix up the sloppy signals coming from a VCR. Some pro units have this built in. TBCs are available as plug in cards that fit into the pc slots - they only get power from that slot. A TBC will also let you sync up consumer cameras.
Character Generator. Do Text crawls and scrolls like the big shots. It's pretty good actually. You can use your own postscript fonts too. But if you want to title a tape.. see the TBC comments above.
Croma/FX mess with color in realtime. never saw much use for this, but it's there. :-)
Toaster Paint. 24 bit painting. It's kinda awkward, since you paint on the amiga's HAM mode then render to the toaster.
Lightwave 3d: My favorite part... the 3d animation software. Without some sort of frame accurate recorder or that 24-bit mpeg playback board (PAR) it's hard to playback animations. But I had good results making 24-bit frames and using a program like rend24 to make HAM mode animations. These can look pretty good, especially on a AGA machine. Or find a used DCTV somewhere.
There are 2 24-bit frame buffers in there. I seem to remember some software that let you blast jpegs right into them.. so it makes a cool slideshow
I "inherited" a toaster system when the store where I worked folded. It's a great toy. :-)