Just a follow-up: Finally had some time to set it up in the basement. Borrowed a sound level meter and tested out the saw (no load levels).
Saw attached to steel legs: 89 dB Saw attached to MDF enclosure (sealed box in place of legs): 82 dB Saw floating in MDF cabinet (with above enclosure) with baffled and filtered intake and exhaust ports and zero-clearance insert: 77 dB
Sound absorbing material was used within the enclosures and baffles.