Unless you're in a magical world where hood space is more widely available than PAC money, I'd have to say that safety/ventilation etc. is way down the list for most PI's.  In many all of the labs I've worked in, hood space is too valuable (i.e. scarce) to take up with a rotovap, and a rotavap setup is so bulky and difficult to move it would impractical to move it into a hood if you had something really nasty.  In that case, we'd instead remove the solvent with a vacuum/Schlenk line that is already in the hood.

That said, one should always set up proper traps, pumps, venting and safety shields for rotavaps used on an open bench top.  I assume various places have SOP's for that. 

Rob Toreki