Last week, after touting the virtues of Tiger’s Burn folders, I asked the question: “Do we still need Toast?” On Friday, Roxio responded with Toast 7. Apparently they’re not quite ready to fold up their jewel cases and go home.

This is a major upgrade to Toast Titanium. Not only have they improved their existing workflow for creating discs, they’ve added goodies such as an iLife browser, H.264 compression, a Dashboard widget for audio recording, DivX to DVD burning, DVD copying, and tons more.

Toast 7 debuts at the end of the month. It’s going to cost you though… $99 for the box, with a $20 rebate for existing users (gawd I hate rebates).

So now the question isn’t so much, “do we need Toast?”, rather, “are the new features worth spending $99 for?” (and hoping that the rebate actually comes). I have to say, Roxio has made a compelling argument for “yes.”