I use welding magnets sitting around the bench to attract metal dust. The ones directly in the grinder path occasionally catch "fire" and glow like burning steel wool. Unless they are sitting on a flammable surface or next to a paper towel, it won't go anywhere or "burst into flames". I just pick up the magnet and stick in the dunk bucket when I see it. I bet the magnets catch 100 pounds of steel dust in a year. That is dust NOT getting into machines, Not going on the floor, and NOT being breathed. An occasional glowing magnet is worth it.
To clean off the magnets, I use a gloved hand and run the fingers down the grooves, pinching off the shavings/dust ..... or put in a zip-lock plastic bag.
I also have a "floor magnet sweeper" that is generally used to pick up screws and nails around construction sites (Home Depot - $15) A run across the floor and under the bench not only picks up metal filings, but finds small parts and bits of steel that get away. It has recovered more than one mini that flew out on my fingers while thinning on the grinder.
The new shop will have a dedicated grinding/welding area with sliding welding curtains and inflammable benches and walls. The bench tops will all be stainless steel, and the walls cement board. Besides fireproofing, it will aid in cleaning.