Check out the first testing of my new dust collector. I have a $20 (that's new) mini shop vac sucking trough 6 feet of 1/2 inch hose (I have not cut it yet) and I was getting 99.9% of the dust. I saw the odd feather fly out. Mind you, this is only the first test.
There are problems yet to solve, but, I have to say, I think this it the way.
http://www.youtube.com/watch?v=ccZbJjG2gkc