Confused about Dust Collection

I'm getting very confused about the dust collection options. I've seen 1 hp wall mounted units, units with a big filter on top and bag on bottom in sizes from 1hp to 10+hp, units with cyclonic action before the filter and bag, shop vacs which seem to have as much power but much less airflow, and cyclonic add on's to shop vacs.Then there are supplementary filtering units and all of the units come in different specifications from 1 micron to 30 micron with 2-2.5 micron seeming most common. However, those measurements don't give percentages or how they decay over time.

Prices are also over the place. Shop vacs from under $100 to over $600. Top filter units from $250 to thousands. Cyclonic units seem to start at $800 with Jet having some add-on that they claim does a similar function in the same price range.

I'll need to handle one tool at a time. The tools will include a table saw (probably 3hp cabinet but possibly 1.75hp contractor), router table, miter saw, jig saw, handheld router, belt/disc sander, and, maybe circular saw.

What do you recommend? Will a shop vac with Oneida Dust Deputy cyclone be sufficient? Is an air filter needed in addition to the dust extractor?

The workshop is in the basement.

Thanks,

David