Reviving this old thread to add some important details about the dangers of oil mist when operating saws. I observed over time a significant portion of members of our local club who didn't seem to be aware of the risk of lipoid pneumonia - inflamation of lung tissue due to accumulation of oils. Shortness of breath, chest pain, cough, and general malaise are some of the typical symptoms. Chronic exposure may lead to lasting damage.
Note that this condition is in addition to the added danger from silica particles that oil mist is carrying, or to any toxic or carcinogenic effects some oils may present (transformer oils some rockhounds reportedly use, or traces of aromatic components in impure mineral oils, smoke). Inhaling the mist of even the pure, FDA-grade mineral oil is damaging in itself.
To control the risk, avoid oils that create lots of mist (unfortunately these are often the low viscosity oils that are desirable from the mechanical standpoint).
Make sure the lid closes properly, and keep it closed for a few minutes after stopping the saw.
Know your respirator or mask: p95 rating, for example, indicates resistance to oil mist, whereas n95 material would suffer from degraded performance when exposed to oil.
Ensure adequate ventilation. If you have to reach into a cloud of oil mist, at least learn to control your breath for those few moments.
Ensure adequate lighting, so you can notice the problem if it is there. Oily surfaces around your saw are also a good indicator that you have a problem.
Try reducing the spinning rate of the saw, especially for larger-diameter blades, toward the minimum of the recommended operating range.
Learn to distinguish between the smoke and the mist - both are bad for your health, but are caused by different mechanisms, and require different remediation strategies. (Speaking of smoke, a handheld thermal camera is one of the best investments for anyone operating machinery - you can easily identify a number of problems with wiring, motors, v-belts, bearings, and blades).