My wife is sensitive to anything I paint. I have an HVLP sprayer I bought over 12 years ago. However, the drying paint emits VOCs. I think there are some paints that are lower VOC. My wife's nose is very sensitive, I lost my sense of smell about 7 years ago.
You can solve your dust capture issue, the questions are cost and local zoning. Ideally, put a significant cyclone-the Penn State Tempest S, the Grizzly G0440/G0441, Oneida V-Series or Super Gorilla, ClearVue Cyclone-outside in its own shed. For each tool ensure both the tool and hood are sufficient to capture the dust generated. Then back it up MERV 15+ filter running through a fan in the shop.
Once you put the dust collector back in the shop (The Donaldson Torit site has no commercial dust collectors in the shop) you need to have a filter capable of MERV15+, a cyclone strong enough to pull nearly everything, and motor/impeller powerful enough to drive it. This is modified HF vs. ClearVue decision is not unlike the Grizzly 1023RL vs SawStop 3hp PCS decision: both work, one provides greater safety at much higher cost.
The race car in the picture is an example. It had a bunch of safety stuff not common when it was added: collapsible steering column, extra 10lb extinguisher with thermal switch next to the fuel cell, a pressure switch set to cut the engine electrics when brake line pressure exceeded a threshold (set to 900lb, 600-650 was normal max range), the driver suit was a PBI with a very high TPP and protective underwear and baliclava were always worn (which is very hot in a stock car on a summer evening), I was using a HANS device when they were still difficult to get.
A few of those were prompted after a 2001 T-bone accident. In woodworking, unless there are fingers on the floor, the cause and effect aren't as clear.
Everything has a cost performance tradeoff. Short of spending $2500 for dust collection, it seems we are finding what the best middle ground is. For some people cost is the dominate factor. For other performance. Most of us are some place in between.
For me, the low end is probably the Grizzly 703P or PSI Tempest. I would add a cyclone and canister to the HF, raising the price to over $540. The 703P at $840 and the Tempest for $120 more offer advantages and simplicity worth the difference. Both solutions are one machine at a time with a short hose. For the table saw, that would include a flexible hose at least 12' long.
Any of the Oneidas and ClearVue would be over $1500…and approaching $2000. The Grizzly 2hp and the PSI Tempest S would both be about $1200-1300 when the dust settled (pun intended). Either should be able to handle one large machine over an arbitrary fixed ductwork of 20-50 feet. Neither specs their filters with a MERV rating and it currently isn't a nano filter.
Oneida specs their filters as MERV 15 or MERV 16, some as HEPA. ClearVue specs their standard filter as MERV 10 and has a $100 upgrade to MERV 15: Filter Efficiency: 99.99% at .5 micron (MERV 10)
Filter Upgrade: NANO - 99.999% at .5 micron (MERV 15). Presumably the PSI and Grizzly filters are MERV10 range. Those are all particle size capture numbers. They require some mechanism (e.g. a good cyclone) to keep the filter clean. And they do nothing for VOCs.
A list of the MERV standards: http://www.oneida-air.com/PDF/merv.pdf