Some of the retail systems I've seen use a hose that is less than 3" in diameter. I would be concerned with anything that small in diameter being used with a dust collection system. A dedicated vacuum...OK. Dust collector...nope.
Also, I have a small shop. When I need to swing boards around, the flex duct drops become a pesky interference. Hence, I went with a side swing arm. But, if you need a flex duct drop to the tablesaw anyway, I guess it wouldn't matter much.
The other issue with a small shop and an overhead mounted hood is that the tablesaw will become less mobile. I've found that in a small shop, keeping things mobile lets me do bigger tasks.
-Jeff