Here's what I recently completed for my dust collection setup. Sounds an awful lot like what many of have done or thought about. It has been working great for me. I modified the HF DC to integrate the Thein separator, and ran about 14' of 4" PVC down low on the wall. I've got 3 wye's with a fourth blast gate at the end of the run for a flex hose.
Right now I've got my table saw and band saw hooked up, and the third wye is for my router table. The flex hose connects to either the jointer or planer when in use.
I've got the Wynn filter in mind for my next upgrade.
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