No, you wouldn't need both. My Miele speed oven microwaves, bakes, broils.... It took the place of my microwave and toaster oven. I still keep a slotted toaster on the counter. You can do toast in a speed oven using broil but some do the job better than others.

This thread was one of mine from a while back and may be more info than you're looking for, but....

Here is a link that might be useful: Speed Oven Thread