Also not all dust collectors are equal! There are several types:
The most economical and biggest-selling dust collectors are the two-bag, single-stage models. Single stage means the dust is sucked through the impeller (fan) and dumped into the lower bag. The upper bag collects fine sawdust and lets the exhaust air back into the shop.
Two-stage collectors are the next step up. The motor and impeller sit atop a barrel. Chips enter the barrel and are directed downward, although the swirling air inside may occasionally move smaller chips upward. A filter bag hangs off to one side and collects the finest dust.
Two-stage cyclones are at the top of the evolutionary chain. The motor and impeller sit atop a cone-shaped canister, the cyclone, which is connected to a trash can below. Chips or other large debris enter the cyclone and swirl downward, avoiding the impeller. The longer the cyclonic chamber, the greater its effectiveness at slowing down and separating large particles. Air is filtered either by a pleated internal cartridge or by one or more felt bags hanging off to the side of the machine. Internal-cartridge cyclones use the least amount of floor space. The upper bags or cartridge filters of all collectors must be shaken out occasionally to remove fine dust.
Experts (e.g. Bill Pentz, & Anatole Burkin) agree that a two-stage cyclone is the best system. Brands include Oneida, Clear Vue, and Grizzly.
Wood Magazine recently (5/09) gave a 5 star rating to Oneida's Gorilla system.
I'd look hard at the 110 volt Mini-Gorilla. By the time you've added a wall bracket or portable stand, and drum kit you are looking at about $1,000.
Hope this helps.