I came to really appreciate toaster ovens over this summer; I now consider them one of my three essential kitchen appliances, along with rice cookers and food processors (microwave's a given, IMO, since they're so commonplace). They are just immensely convenient and versatile tools, or at least larger ones are, which can accommodate larger dishes like whole corn cobs, whole fish, or bread pans and casseroles.
They're very simple to operate (push some buttons and go), while generating far less excess heat than conventional ovens and needing to heat a much smaller space, and thus, I imagine, using much less energy.
Of course, sometimes you want more space, whether to get more room between your food and the heating elements (as my singed summer squash bread attests) or for better air circulation and drying. Though, the excellent model my roommate has also has a convention baking option....but I'm not sure if that helps evacuate moisture or not.
Most of all, I really appreciated being able to just clean up a potato or cob of corn and pop it in the toaster oven, and have a perfectly done bite to eat without having to put in much effort otherwise.
Above: broiled mackerel
Below: roasted brown rice. Yes, you can roast your own brown rice to add in with your green tea to have genmaicha! Though, I don't know if there are other things involved.