In my opinion, the Toaster/Flyer was one of the best creations made for the Amiga. I know that much of the processing was done on the Toaster card but the Amiga did give it a long life.
My system still runs flawlessly after all these years but truthfully I hardly ever use it any more other than to show people what the Amiga was capable of.
I still use a Newtek product called Speed Edit for my current HD video editing on a PC but it is not a live switcher so that part for me is lost.