Sawdust gets into everything.
Get a large heat sink for the CPU and try to find one with bigger spaces between the fins. I would put the hard drive in a bag or a sealed box to keep dust out of it.
Since it is competing with power tools I guess noise is not really a big concern. I would find a case that is mostly closed and put several fast fans blowing into the case to provide positive pressure and try to keep the fluff out. Cover the fans with some light cloth as a filter and just run the shop vac over it now and then.
If you are using used gear I would not worry too much about it. Especially if you cut down on the small fans and thin heatsink fins. Anything solid state is pretty durable. If you have all kinds of money then there are some bullet proof options in the industrial arena but it would not be worth it to me.