Bumping this… Would like to see if there are any suggestions from the folks here. Mine is quite dusty too and I am running the same setup and cut mostly MDF.
I am using the really strong vacuum system, I guess I should start making an enclosure once I get it. Mine making dust on the bit and around the bottom, now that you mention it. I have be cleaning it with a damp cloth and wiping it down, I guess most MDF will emit a lot of dust. We still clean around the collet like carbine create suggested. If you are going to blow out the dust off your spindle, make sure you wear a mask.