Can TosLink ever equal Coax digital?

I recently read that TosLink is sometimes as good as coax digital connections. I have never tried TosLink, because I long ago heard that it is inherantly inferior. If it does work well, what kinds/brands of TosLink cables work well? I am currently using a Kimber Select 2020 digital cable, so if TosLink can be good, it would need to better my present cable. Thank you for considering my question.

Dennis