Is the Toaster/Flyer dead? well in the usefulness of production work yes but it still is alot of fun to mess around with. My system that I bought in 1992 is still working today. Sure Ive had issues but all have been fixable and I still play around with it from time to time. I even have a big green screen that Ive used when my kids want something fun to do on a cold winter day.
Newtek up until recently even offered free repairs on the Toaster and Flyer boards. What company has that good a warranty these days?
I used my system primarily for Wedding production and some promotional videos for small business here. The output quality was as good as NTSC could get if your source was up to par (garbage in, garbage out) 525 lines of resolution was its max. I still have my Digital-S deck with a few tapes with stuff on them that I worked on.