Just how much does one "budget" when it comes to your health? I venture to think that a $1000 dust collection system will be far, far cheaper than any of the doctor's bill and that will not include the time wasted on getting well - IF you get well.
I HIGHLY recommend that you put a collection tube right at the source of your dust - I use one directly under the tool at the wood and collect 95% or better of all the shavings, dust etc. I have the hose mounted to the banjo so when I move the tool rest the vacuum moves with it. For pens it is no problem, but to do a bowl I must use a different approach to hold the collection device in place.
I wear glasses like many here do and I have noticed that the lenses are no where as dusty after I started doing this collection process about 15 years or so back. Even the floor is a lot easier to clean up after a full day turning.
I also run the flexible hose a good distance away from me - about 15 - 20 feet or so - as I don't care for the damage that is caused by the continuous high pitched sound from the vacuum cleaner. I use a 4" system AND a shop vacuum with HEPA filter every time I turn on the lathe.
When you get the "room" I recommend that you get some form of canister dust collection system. Also, adding a pre-filter in-line will add years of life to your filters. Emptying the pre-filter is far easier than disassembling the dust collection system just to empty the chips and dust. BTW, the pre-filter will also protect the impellers from damage caused by large chip impact - $$$$ - ... this also adds life to the system.
Look at a canister that collects 0.3 - 0.1 micron dust particles as this is about the size of dust that does damage to the body since it enters deep down into the lungs prior to settling out - cough, cough, cough!
Get a dust collection system that moves a large volume of air, add a pre-collection system, uses 0.5-0.1 micron filtration and go for it. No more canister filters to fog up, no more free floating dust (well, maybe a bit) and live longer. This is an excellent filter add-on;
http://www.woodcraft.com/family.aspx?FamilyID=4310 JET also has a great micron filter about the same price for their DC units - see Woodcraft for this as well.
IMO one just can't have enough filtration when working with wood dust - especially the likes of Oak, Snakewood, Spalted Anything (yes, many of the spores from the spalting process can and often do survive in the human respiratory system and that can be life threatening, etc., ... search the Forum for articles on sensitized vs allergic reactions to dust. Becoming sensitized is by far the worst of the two. Neither is a good thing.
Look here for pre-collection cans:
http://www.woodcraft.com/family.aspx?FamilyID=4310 ($28.00 VERY well spent and recouped in quick time!) This one MUST be used with a METAL 30 gallon trash can - Home Depot +/- $30.00.
Avoid dust inhalation at ALL COSTS. IF you don't then over time you will develop some really nasty diseases that you just may never recover from. [}

]
Take every protection you can and enjoy this hobby and life a lot longer ...
