Just to clear up some misconceptions, my (then brand-new, stationary) 2HP JDS Cyclone was $900 4 years ago. Their most recent mobile 2HP cyclone sells for around $1400 and other vendors offer quality 2HP cyclones in the vicinity of $1000 (and 3HP for $1500 to $1800). It's not really fair to suggest that a woodworker can save THOUSANDS by buying a single-stage collector and vent it outdoors. HUNDREDS of dollars certainly, but not thousands unless you intend to buy a super high-end uber-HP model.
If you have nearby neighbors (e.g. live in the city or suburbs) venting outdoors really is not an option, and if you heat or A/C your shop then venting outdoors is simply not an option unless you are prepared to pay a small fortune to heat or A/C your shop (not to mention significantly oversizing your heater or A/C to match the losses created by the DC). In such a case, you will also have to figure in the cost of a 1-micron filter to add to your single stage dust collector (most models, especially cheaper units unfortunately, seem to ship with 2-5 micron, or worse, filters). Plus the added cost for materials to build a Thien prefilter, which, like a cyclone, incurs some loss in performance, though, with the caveat that it will reduce the rate at which single-stage collector performance declines due to clogged filters. Not to mention a Thien prefilter (which substitues for the cyclone) generally makes a mobile single-stage unit considerably less mobile. If mobility is key, a mobile cyclone has nearly the same footprint as a dual-bag single-stage unit (or single-bag plus Thien) with much better overall performance. If mobility isn't important, save a few dollars by buying a stationary unit.
It's always ideal to improve indoor air quality by exchanging the air outdoors, but for most of us that simply isn't an option due to either of the cases above as well as other issues that may come into play.
As far as ductwork is considered, a cyclone will perform better for a given ductwork configuration than a single-stage DC due to it's greater static-pressure performance and more efficient impeller design. Even with less than ideal ductwork (such as 4-6" flexible ductwork, up to 20ft or so) you will get equal to or better performance from a cyclone than a single-stage DC (especially if each is equipped with comparable filters). While it is always optimal to setup any DC system with ideal ductwork, regardless of type or model chosen, buying a cyclone does not necessitate an immediate investment in high-end ductwork to deliver the same or better performance than a single-stage unit with an otherwise identical setup.
If you can afford the IMHO reasonable premium for investing in a cyclone DC, there is no reason not to do so. If the most you can swing is a single-stage DC with a 1-micron filter, then that is MUCH better than no DC at all. If you can vent outdoors without concern for the health of neighbors, family or pets, and never open your windows (or discharge many hundreds of feet away from house or downwind) and can tolerate the outdoor mess (fine dust coating discharge area) at your discharge point (or use a cyclone to capture the majority of the mess before venting outdoors) then thats great -- it just isn't a practical option for most.
Just my 2 cents.