You don't need HEPA filter. Most woodworking dust collectors these days have 1 micron filters which is sufficient for wood dust. Keep in mind that a dust collector can only filter the dust that it collects and there is no dust collection system that is able to collect all of the dust coming off of a tool. An air cleaner is also required to get the suspended particles that are missed by the dust collector.
The dust you really need to be concerned about is sanding dust. This is even true for hand sanding. Sawdust that comes off a saw is actually quite large and does not stay in the air to be breathed. It's messy, but not generally a health hazard.
In my woodshop I have a dust collector with a 1 micron canister filter and an air cleaner with 1 micron filter suspended from the ceiling. Both are quite noisy. If I am power sanding, even with dust collection running, I also wear either a respirator (for exotic, toxic woods) or a dust mask.
Steve
Sent from my 'droid tablet.
I’ve used the odd circular saw in the space, and the important thing is to use the shop vac afterwards. I’d love to have proper dust extraction at the space, but it’ll require us to have more room, for sure.