Really good points here!
I would add that ALL air tools require lubrication. That being the case, it is imperative to keep the air dry.
Drain the tank before each use AND blow out the air line using an ordinary clean-up nozzle. Blow air through the line until you don't see any vapor.
I've been both an industrial and home user of compressors for over 30 years. All the way from 250hp screw type down to itty bitty 1.5hp.
I've tried a wide variety at home and found that you really can't get too much air.
I've had the parts store and department store varieties and have found that ALL of them are full of hooie on what the'll do. The big trick with small compressors is to claim a hp rating when it is not real. What they're doing is overrevving the compressor to get the supposedly higher hp flows.
Two things are wrong with this besides misleading advertising. 1. You won't get the performance and 2. The unit WILL and I mean WILL wear out quickly.
To avoid all of the confusion, buy your compressor from a company whose only business is compressors. Further, stay completely away from the small 110V units. Even the average guy will have it spitting a rod in a fairly short time.
Go with a 220V 2 stage at least 5hp w/large tank. (80gal).
Now to my choice. I highly recommend Quincey compressors. I've never been let down either in industrial usage or home usage. They are well backed by the factory and the compressor dealer you buy from will be your service and repair source. Very valuable if warranty matters come up or, you need a new filter, lubricants etc.
Last note: Put an inline hour meter on the unit and change
oil by recommended hours of run time. (goes between the switch and the motor and the dealer can put it on for you.)
Dessicant type air dryers are ok but watch that you have the unit sized properly or the dessicant will saturate and be of no use. Refrigerant type are excellent, but spendy and not really necessary unless you're in a really cold climate. (yes compressed air is cold and will freeze things up if there's water in it.) Do put in a water trap ahead of the dessicant unit and drain it frequently. Down line from the dryer, you can install a lubrication unit which will keep all of your tools properly oiled. Obviously if you're painting, you'll need to put a tee in the line ahead of the lubricator with a quick connect outlet for your paint gun line. On the down line side of the lubricator, terminate the line with a quick disconnect.
While you're at it, make sure that all of your fittings match. It's no fun to constantly change hose ends.
Some thoughts. Hope they help.
Al