How much time do you have until your post-landing appointment? Versus how long a connection in YYZ? Frankly, I find that baggage delivery in HKG is fast enough that, especially if you are standing in the visitor passport line at immigration anyway, the priority baggage is generally only a slight improvement. (Waiting for non-status visitors in the arrivals hall lately I'm averaging at most about 35 minutes from wheels down to them walking through the post-customs door, not much longer than it takes me with HKID and priority tags.) I wouldn't necessarily stress out about it if you have a tight connection in YYZ and re-checking is likely to lead to a big hassle.