.
Toaster ovens are great IMHO. You can heat up a TV dinner in one or a frozen pot pie or bake a potato or five, no problem. Good for heating up pita bread or naan or malabari paratha, or even melting cheese on nachos. They're fine for most warm-ups like that, but when it comes to baking cakes or brownies, or fruit pies or bread, they tend to have hot spots that make your baking project overcooked in one place and undercooked in another. But somehow that doesn't happen with those simpler items I mentioned.
I have both regular toaster and toaster oven, and I use the regular sliced bread toaster more often because I make toast more often. But if I was heating up a frozen pot pie every day, I'd use the toaster oven more, perhaps.
If all you're doing is toasting slices of bread or bagels cut in half, you're better off with a regular toaster because they're easier to fine tune for just the right amount of "golden browning." Toaster ovens tend to only toast the top side because that's where the radiant heat is. The heating elements on the bottom are blocked by the shelf tray -- unless your model allows you to remove the solid shelf and just use a wire rack. Even then, your slice of bread would have to be exactly in the middle between the upper and lower elements. If it's too close to either it will overcook on that side first.
But if the bread you're toasting is already buttered on one side (like for garlic toast) then the regular toaster is going to be really messed up quickly. That's when you need the toaster oven, and keep the buttered side facing UP!
Maybe a convection oven is better for consistency, because the air is moving around the food. I've never used a convection oven but people I know who have used them say they're great, and that you get spoiled right away, and you'll never go back.
Anyway, a toaster oven is a lot better than a microwave, because it heats the food more consistently, doesn't dehydrate it so much. It browns, which nukes can't do, and it heats from the outside of the food instead of from its inside. You just have to clean them a bit more often than microwaves, because food tends to get stuck and the heat bakes it on more than it does in microwaves.
.