Its not cheap though but just another way of doing it.
Well, there is an understatement. Figure 15k minimum for decks, 5-10k for monitoring, and another 5-10k (minimum) for an edit controller. This does not include a character generator (for slates and titling) or a DVE for any effects (repositioning said titles), or any audio! Need a mixer as well for that.
There is no faster way to slate or version masters, as well as building clip reels for EPK's etc, but for creative work? Linear only makes sense in a multi camera environment.
The beauty is you build the master tape as you go. No wasting time sucking in all the material.
As for speed, creative work MUST be done before entering the linear arena, so all the time you save in post goes away doing the creative work. Oh yeah, you probably needed to do the creative work in a computer, so you had to digitize the media anyway, just at a lower resolution...
The days of linear editing really are over. I am upgrading my linear suite to HD just for clip reels and EPK's, as well as slating and versioning our TV spots. However, I am going to build it as cheaply as possible, as it will never be practical (read cost effective) for use outside those needs.