Everything I read on the subject said for a home shop where you're only using one machine at a time, the HF dust collector is a darned good deal and will do everything you need. But a couple of upgrades help a lot and will make it better than most systems that cost twice as much.

1 - Replace the filter bag with a Wynn filter. Yes, it's pricey. But it's highly recommended regardless of what dust collector you get. Without that filter, you've really just got a dust circulator, not a dust collector.

2 - Add a trash can separator with a Thein Baffle upstream from the impeller. This gives you two things. If you do pick up any metal, it will settle in the trash can instead of hitting the impeller and potentially sparking and leaving a smoldering ember in a pile of sawdust. The overwhelming majority of woodshop fires come from something hot landing in a pile of sawdust. The other is the trash can is A LOT easier to empty than the collection bag. At this point, I've probably emptied the trash can a dozen times, but the collection bag has maybe half-a-cup of chips/dust in it.

Here is my HF dust collector after those mods.