So, perhaps I should have considered this early and done more research.
For a hobby shop machinist (ie. a few hours a week, small stuff, basic tools) what are the risks and how serious working with stainless steels?
For general work, it's pretty much just another metal. If it stays in chips, you needn't worry. Well, keep those out of your eyeballs I guess, but not as far as your lungs go. Grinding stainless, yes, there "can" be some elevated risks, depends what you're doing, but unless you're doing something exotic, with enough horsepowers involved to be limited to commercial use, a simple dust mask is gonna solve the problem. Same goes for most metals when you're grinding. Chips are inert, coarse dust isn't even that bad, it's the stuff small enough to stay airborne that'll get into parts of your insides where they shouldn't oughtta be. Even still....... There's probably a lot worse things you experience daily. NOT saying that precautions are not warranted..... Most of us should take more precautions than we do, in ALL of our lives, not just in the shop...
I've been aware from the start that wielding stainless posses some extreme risks due to the gasses that are produced.
That's valid, but consider this- Osha sets a limit based on an 8 hour average. Then tomorrow's a new day.... I don't have the facilities to weld stainless either, but I'd have no issues buzzing a couple of things together. If there were a lot of it, forced ventilation (a stout fan blowing out one window, with fresh air entering from elsewhere...) would be plenty satisfactory.
From other reading, there is also a risk of inhalation of dust when grinding. Ok, good to know. I'm assuming that this is related to the the heat and fine dust, just like welding. Hot fine dust is going to change chemically and you don't want to inhale chromium or lead. I don't do a lot of grinding but will be more careful in general about grinding dust.
I believe that this is not heat related, but dust related. Then there's also the grinding consumables. That's stuff gets in the air too, and again, after LONG exposure, can build up to something. Forced ventilation, taking the grinding area air out in a direction AWAY from your other machine tools is beneficial for them, and in a non-production environment, is likely a solid benefit to you as well. And again, a dust mask is quite appropriate here. How far you should go is based on how much you're doing, and what your end goals are.
How about machining stainless? I imagine that small smoking hot chips of stainless are also going to be giving off bad smoke that you don't want to be inhaling all day. In the past I've machined SS at feeds and speeds that produced too much heat - to the point of blue chips and smoke. The simple fact that this is bad for end mills and small machines, I now use coolant system and my tools and myself are much happier milling SS.
If you're making chips, you've got no worries unique to the stainless. If you're cutting is making dust? Well, you're burning up cutters too fast, and not cutting efficiently..... But the fumes you see are oils, from the cutting oil you might have used, right to the simple skin oils that are on the part from your having put it in the machine. Unless things are going horribly wrong, machining isn't so bad in that department. (Do still respect the oil smoke thing... That's not exactly healthy...
So I've managed to mitigate this hazard simply by doing a better job - adding coolant and slowing down if necessary.
I don't recall seeing coolant fumes anywhere on the food pyramid.....
What about band-sawing? I use a cutting wax stick for lubrication/cutting - again, the blade lasts much longer. However cutting will still give off smoke but I'm assuming this from the wax/oil and not likely to be (much of?) an SS smoke/dust exposure hazard.
The bandsaw is a hard, case by case call. They can make dust, or they can make chips, or anywhere in between. If it's floating off into the air, it's dust. Otherwise, it's chips. If you're breathing them in and it smells/tastes like metal... It's dust. If it's so fine that it's a PITA to sweep up, it gets everywhere, but it's not hanging in the air- it's little chips.
Understand that I'm in my 60's and I've done plenty of things that exposed myself to hazards that I shouldn't have. I try not to needlessly add exposure risks and in this case, I'm now doing enough work with SS that I need consider more opportunities for repetitive exposure (but still not 9-5 job in a metal working shop level).
Life is hard. We live on a planet that is trying to kill us, in a solar system that is trying to kill us, in a galaxy that is trying to kill us, and all while being threatened by another galaxy that want's to kill us, inside of a universe that's trying to kill us...... The goal isn't to make life perfect, the goal is to not take in anything faster than what it can be gotten rid of. That ranges from "never gotten rid of", to "goes away quite quickly". I don't want to sidetrack from what you're specifically asking, but honestly, aside from welding, the "fix" is the same good practice as for EVERY metal you cut. While stainless in "SOME" situations (including welding) can have some very tangable consequences, most of it's consequences have little or nothing to do with the alloyed metal content, and more to do with the coolant, oils, and the physical dust particles, regardless of their composition, with the dangers having more to do with their size and concentration. What I believe you're after is not to be "perfect" in doing what's right (heck, even sunlight's too dangerous for peoplel these days...). but while not perfect, I think you want to do pretty good to look after what you've got right now. And I think venting (or even a little dillution if you're not welding) of the fumes, so long as you're not welding will cover that, and keeping the physical dust of ANY makeup out of your lungs, including with the stainless, and any metal, and grinding paraphanalia will get you where you want to be in that department. Cross ventilation is a very, very powerful tool in all of these battles. And a hepa equipped vacuum cleaner at the ready.