How can I make my Tramp Oil Remover better?

Guys, I have built a simple Coalescing type system for removing Tramp Oil from CNC machines. The system consists of a floating suction device that is dropped into the machine tank, a centrifugal pump and a Coalescing Plate-Pack type oil water separator that does a good job of removing most tramp oil from the machine coolant tank in less than an hour.

Now, I was wondering what other improvements I can make to this system. How about something to remove odor? An inline filter for metal chips perhaps?

Any other issues you guys face with your machines that you would like to have addressed by such a system?

Any help/leads would be appreciated.
Thanks.
KV