Echoing most of the comments here about a decent HEPA shop-vac style preceded by a cyclone. I sorted by noise and compact size (assuming that most everything ends up in the cyclone, so the vac bag capacity doesn’t need to be that large) and landed on the Fein Turbo 1. It’s way quieter that the Ridgid I was using previously, has the same motor etc as the larger models, and has a good HEPA filter option (sadly does not come standard on the small size, at least on the packages I found). Can regularly be found on sale for $230 or so.
Also just added a Rockler Dust Right manifold to switch between the router and a loose hose for shop cleanup and portable tool use. I started to build a manifold from blast gates and Y fittings, but mounting these is cumbersome and bulky for a small shop where gates at each tool aren’t needed. Highly recommended.
Slowly getting everything self contained under the footprint of the table itself as my shop is tiny and I hate bumping into things.
Ok I’ll repeat what others have said. I was about to spring for ANOTHER Jet Dust Recovery System. Thing is loud. We use it on production machines. It works. With earplugs. I have our SP5 in a smaller space away from the main production floor (peaceful. I can close the door) I read someone’s thread here who HIGHLY recommended the Dewalt Stealthsonic running into a mullet or a cyclone type thing. I’m like ok even if it’s not REALLY that quiet, we can always find use for another shop vac if it doesn’t work out. Heh. It worked out. I can have that thing running and the SP5 is louder than the vac if you can imagine that. It’s quiet enough that I can put in a set of ear buds with noise cancelling and have a normal phone call without them hearing much of anything. Pretty cool