According to GFD Internat'l Inc. LLC Ltd.'s chief safety consultant, I could have run for my camera to try to get a photo of the flames instead of putting out my recent toaster-oven fire.
Although that's not exactly how he put it. In GFD CSC's words, "If there is a fire in the toaster oven, just unplug it and leave it alone; don't put anything on it or do anything else. The toaster oven is designed to contain fire. Whatever is in there will burn out without your doing anything. Most of the fires that happen are when people open the flaming oven to try and put out the fire."
So there you have it. When your toast catches fire, STEP AWAY from flaming oven. Fetch camera. Take photos for bl*g.