Do you get a lot of overspray or mist hanging in the air that settles down on stuff in the room?
Yes, you definitely have to account for that. By the time it floats in the air, it dries before landing on things, but it still leaves a layer of "dust" on things. In my Johnston house, I made a poly "tent" in the garage, but now that I have a dedicated shop, I just spray in the open.
I have seen some Wood Whisperer episodes where he will actually spray outside. I did that once with my airless spraying latex on cabinets....it didn't dry fast enough, and bugs were an issue.