Miles toiled, wasted and bygone (3-4)
I believe the answer is:
old-time
'bygone' is the definition.
(thesaurus)
'miles toiled wasted' is the wordplay.
'miles' becomes 'm' (common abbreviation).
'wasted' is an anagram indicator.
'm'+'toiled'='mtoiled'
'mtoiled' anagrammed gives 'OLD-TIME'.
'and' acts as a link.
(Other definitions for old-time that I've seen before include "(E.g. dancing) in ancient style" , "Relating to the past" , "Quaint" .)