I have a home-made unit built from 3/16" luan and 1 x 2's. A cheap bathroom exhaust fan, a 16 x 25 furnace filter, and some 4" flexible ducting to an outside window take care of filtering the over-spray and the noxious fumes to the outside. A box store fluorescent light and a cheap, plastic Lazy Susan from Wally World take care of the the turning and illuminating chores. I built to be usable at a comfortable standing height. A secondary lower shelf holds multiple rattle cans of spray paint and spray adhesives. Although about 6' tall, it's fairly light weight and easily movable.
I mainly built this unit so I could spray rattle can paint in the basement during the wintertime - too danged cold to do it outside during the winters. The wife and kid used to complain about the fumes stinking up the whole house before this, but after I built it, no more complaints. As an added bonus, I can paint year-round at my convenience without having to wait for decent weather outside.
Complaints or not, I should have built the blasted thing a long time earlier. I don't paint THAT much, but is it ever a lung & nostril saver when I do! 
