Rick's right, the fine dust is the most dangerous, and the most expensive to capture.
My interest in dust collection for the metal area began with a few decorative magnets the wife gave me for my office, which is 20 or more feet from where we do the grinding. We do far more wood working in the shop than metal working. Lots of days the grinders aren't even used. After less than a year in my office there was a dark fuzzy spot of very fine steel dust on the front of each magnet...so fine metal dust will travel very far indeed.
The shop vac with the dust deputy is adequate for small tools like an angle grinder. The ash vacuum hose we are using to connect the cyclone to the grinders is about 1 1/4" ID, if I was going to use the system with anything stationary I would use 2" ID duct or smooth flex hose to minimize friction.
But seriously, for a grinder like a 2X72, 6X48, etc., you need a LOT more airflow to get the fine dust than you can get from a shop vac. The flow range recommended for sander/grinders in that size range varies from about 800 CFM (OSHA) to about 1000 CFM for European authorities. So my target is 1000 CFM in a 6" duct, which hits the 5,000 feet per minute air speed it takes to move steel and abrasive dust. It takes at least a 2 Hp dust collector with a short duct run to do that. Our hoods are designed to capture the air close to the point of grinding, which means taking the sparks too. Spark traps can be almost as expensive as the dust collector. And then you'll need flame retardant HEPA filters if you are returning the air to the shop. There's probably about $3,000 invested in the dust collection system on the Bader B3.
For a one person shop the really good powered respirators no longer look so expensive by comparison