It only lasted a while as I sold my Blizz IV to get a 1260 back then, but iirc, the few times I booted up my miggy with Blizz IV and Mediator (with Voodoo 3 2000 and SB 128), I had no major troubles that I didn't have later with the 1260 on. So, at least for Blizzard IV, I'm pretty confident Mediator works ok, albeit not too fast. Faster than AGA of course, regarding RTG gfx....In that case SB audio might be an overkill on 030 through AHI as AHI has that nice Paula DMA mode that uses less CPU than the rest. You still can get a nice 800x600 or 1024x768 16bit workbench though and a fast ethernet card and maybe you may find a second hand spider usb with registered poseidon, I've seen a few poping up on ebay at times. Dunno how good a tv tuner would work on 030, but I suppose it'd be ok as it shouldn't burden the CPU too much.
Hopefully someone else who has spent more time on such a config can confirm what I said.
Oh! And mine is an upgraded Mediator 1200 not LT4, but they're supposed to have the same functions, so....