Doug this is what I use for dust collection http://www.harborfreight.com/2-hp-indus ... 97869.html For the price it is hard to go wrong, and it is a H@@L of a lot quiter than a shop vac. But then I turn out more (when I have the money for wood) more than just scroll work.
You can also build a Noise box for the shop vac, I have read that it does quite them down, but I have to question the air flow aspect of it, but it is something you can look into.