I have mulled this problem over myself. I build in my livingroom so I really need to keep the dust under control.

What I am going to do is build a medium size down draft sanding table, 2'x2' 2'x4' maybe. This is a table that has fine mesh on the top. There are are sanding tables ready made and you might want to consider that but they can be pricey.

Use a small squirrel cage fan and duct it out of a window. Like the one below. Use a small one or one that is low RPM to keep the noise level down.

How do you duct it out of a window without making it look bad? Build a duct that flattens out to the width of the window and about 1" - 2" tall, depending on the width of your window. Put a screen on to keep the varmints out and a louver to keep the weather out. With a little engineering you can make the louver automatic.

You could build a down draft table that filters the air back into your workshop similar to this http://www.woodworkersworkshop.com/p...ding_table.htm