I started out with an oven, but was never too happy about it. After
building a hotplate from an aluminum block almost 10 years ago, I never looked back.
It is wonderful to be able to see the BGA chips sag into place and all solderpaste melt. Looking through the window of my toaster oven was not helpful and relying on the timing device often did not work out so well. For one-off boards you really want to see that happen; for small runs you can time the first reflow and the rest are very consistent as long as you place the boards into the same place on the hotplate.
You can't do double-sided boards on the hotplate, but it was never an issue.
I've had limited success reflowing BGAs using a hot-air tools, but it's a bit stressful, and it's hard not to blow off all the 0402's.