Greetings from Nebraska - and congratulations on your new acquisition. I have had the the Shop Fox version of that model for a few years already and I really like it. That sucker is really heavy!!!
The dust collection on mine is somewhat marginal, except for removing the very fine particles, but I think that is typical for most band saws. There is just too much going on with the bearings and guides to fit really good extraction shrouds on them. I recently replaced the bearings and did a meticulous alignment on them. That and a new blade and it is just like brand new. I have a really good set of new blue urethane tires for it but I haven't put them on yet, the orange factory tires are still performing well. (I also have a second set of bearings for it for the next time I think it needs a good tune up).
So far I have been using Starrett 1/2-inch, 4TPI, Skip Tooth blades and I really like them. I initially had a 3/8-inch blade, but with the type of sawing I do I like the rigidity of the 1/2-inch better. I also have a new Timber Wolf brand 1/2-inch, 4TPI, Positive Claw blade, but I haven't used it yet to do a comparison. Considering the satisfaction I have had so far I will probably stick with Starrett.
The other thing I highly recommend is a set of the blue zero clearance inserts from Rockler, #21958, indicated for Jet. They are 2-1/2 inches OAD x 1-3/4 inches to the lip on the under side. I find them to be far superior to the aluminum ones that came with my saw, especially because I do some segmenting and the zero clearance keeps thin slices from falling through the slot as they did with the factory inserts.
Good Luck and I hope you really enjoy your new saw! - Dave
