Partially correct. In a booth that is engineered to this standard, inlet air is filtered, and well... not just a passing thought of some filters that kind of work, kind of not... Strong airflow without filtration means that you will just be creating expensive sandpaper. Honestly, you do not really need ANY airflow. What you need is ZERO dust settling in the finish. With zero airflow, however, the lacquer mist will become similar to dust. ( though it is small, shrinks, melts in, and is clear) However, if the gun is set up right, and/ or you are using a turbine driven HVLP, the amount that settles in the finish in the first 3-5 minutes, which is when the finish is still the softest, the finish just cures the slightest bit hazy, and most often it can be sprayed right over in the next coat. Downdraft filtered airflow acts like a 'curtain' in protecting the freshly sprayed finish from having particles land in it. This is how top level spray booths are designed.
If you engineer a booth solely with the parameters of (given) volume, equals such and such airflow, without the inlet air being completely filtered, and also without thought to the direction, and other qualities of the the total airflow in the room, you will just be moving dust into your finish, guaranteed.
One nice spec of some airborne particle is going to slow you down, a lot. More airflow, if it is unfiltered, means more potential for dust.
The reasons for high airflow in a booth are to minimize overspray from landing in the finish (which is an insignificant problem in comparison to dust or other foreign contaminants) and also MOSTLY (where spray booth regulations come from) to protect the operator. In reality, it takes very little airflow to keep overspray from being a problem.
Double or Triple layer, glued 5/8" drywall construction, with a sliding glass door, and excellent filtration on the inlet side, and enough airflow so that the operator does not really even need to wear a respirator, YES! that's awesome! That is how a spray booth really should be built. If you cannot quite muster that, In my experience, clean air is WAY more important than quantity of airflow.
With the only design parameters being considered in designing a booth as being 'x' amount of airflow in ratio to a given booth volume, and not exacting consideration to filtration... well, good luck with that.
And, if you are sucking unfiltered air into a booth from a woodshop, that is a recipe for a lot of work and inferior finishes.
Those Can filters, like this:
http://www.canfilters.com/canfilters_150.html connected to an 8" can fan with insulated flexible ducting, and then led into an industrial HEPA filter, or at least an 85% ASHRAE filter would make an excellent filtration system with minimal effort, and the carbon filter will work well when run as a circulating fan in the shop for particulate matter and also for residual solvents. I have had one of those (the 150) running 24/7 in my shop for 5 years now, It is awesome. It is almost silent. For the first year or 2 of the filters life, it will also work for solvents. I have owned one of those metal box woodworking filters with the squirrel cage and the cloth bag filters. Those are a total joke to a setup like I just described. Aside from clogging immediately, with severely reduced airflow, squirrel cages are noisy and energy inefficient.
I guess I should also state, that if you are doing lower or average grade lacquer finishes, like satin, or unfilled, unpolished finishes, you can get away with a less exacting environment. I am talking about how to cost effectively ( on the cheap) spray a tip-top quality, fully polished gloss finish. The kind that, honestly, I do not see too many builders doing, and many that do hire the finishing part out. Of course, just having the booth and a good gun/s does not account for spray skills, and experience based intuition.