How do people dust their systems?

This may sound dumb, but I always wondered if there was anything wrong with vaccuuming the equipment?

I generally view dust as a form of equipment dampening -- resonance control, dirt cheap. :)

You mean you're supposed to dust this stuff???

Only if you don't use a vaccuum!
I use a product called "Grab-it" it is a finely woven paper cloth that I tame down with my Zero-stat gun.

Interesting - maybe I do have a problem! Anyway, I use a feather duster, if I add a new item I pick everything up while I'm back there and "lemon pledge" the rack itself.
I don't add things often.

There are some new hi-tech cloths (one I have is made by 3M) that pick up and hold dust very, very well. They (supposedly) hold dust in the interior of the weave so you're not rubbing the dust onto the surface you're dusting. They're used dry and are safe for CRT screens and hence any equipment surface. Hanky-sized, probably $3 a piece.