I did my first post on this subject in the Shop Notes tab of this web site: http://thehobbyistworkshop.com/jla/index.php/shop-notes/the-shop-dust-storm
Now that I have the blog in place it makes more sense to continue the story here. It seems no one is reading or at least commenting here, so here is your chance. Posting within the site is all one way, my way, but here readers can talk back.
I actually ordered the SHOP FOX W1727 1 HP Dust Collector. Very similar specs as the Jet brand shown in the original post and actually a bit more CFM. Those specs are usually a bit speculative anyway. The important point is the price was right through Amazon.com. The proof will be known when it arrives and I get to run the machine.
The best news is that I will finally be doing the right thing for my health by getting the shop dust under control. It is supposed to filter down to 2.5 microns. I also ordered hoses and clamps so I can go down to 2.5 inch hose for smaller machines (shop vac hose size).
It is one of the smaller dust collectors but it is exactly what I want for my very small shop. A small footprint and the ability to run for long periods. The cost reduction is due to the felt bag rather than the large cartridge. I also like the bottom intake. My previous choice had a top intake which is fine for an overhead system but not for a temporary hose on the floor. Watch for more info once I have it in hand.
Update 3/11/13 I posted an article under Tools| Shop Fox Dust Collector