Very well said, that setup isn't as good as it gets, but for some of us, it is as good as we can manage... And for a good number of us, better than some can manage. (You'd be suprised how many guys are running the HF 1 HP DCs due to budget!)...
BUT... To be honest, if you want to be TRULY safe, doing those sanding operations even with a full on Clear Vue, and the best hood designs, you will still want to wear a good quality respirator... Just because you captured that additional bit of dust, doesn't mean you got all of it, and if you want to be truly safe, you avoid the exposure entirely...
Now for the wrench in the works.... Can you ever be 100% truly safe? I mean a jet engine could break off of a passing plane, smash through your roof, and kill you before you are done reading this...