Clever idea, the author built a mini dust collector (typically big ones you use to get sawdust before it goes into your shopvac) to find small parts that he dropped. I like the bug screen addition to the build and most of the build is with 1 inch PVC (with a 1.5 inch to attach to the shop vac).
http://www.frets.com/HomeShopTech/ForFun/ScrewFinder/screwfinder.html