The 5 micron isn't too bad either, many models still come w/ 30 micron bags.
As others have mentioned it probably will only support one tool at a time, but for a 1 man shop, that's probably not a problem.
Finally, I'm sure it's a lot quieter than the shop vac I use.
BTW, whichever dust collecter you choose, consider a dust separator as well. They're basically a plastic lid for a 30 gal metal garbage can which goes between the DC unit and the tool (planer, table saw...).
They're much easier to empty than a DC unit and should make the DC bags last a bit longer.