[zipzip]

Buy big flow capacity! You'll spend more up front, but as you find uses for the tools, you'll need the extra oomph.

Mine is a 220V, 6.5 hp (DeVlibiss) and I wish I had more! If I recall correctly, it's around 9 or 10 cfm @90psi. Buy extra capacity! Remember to factor in the losses in the hoses! I was running a right angle die grinder with those funky coiled 1/4" hoses and kept stalling it. Switched to the 1/2" rubber hose and got better performance. I agree on the oiled versions too.

I'd say in general, the tools are cheaper, but with anything, they have their specific uses. You'll still want the cordless drill, the circular saw, etc. If you ever need to roof your house, build the kids a tree house, blow out sprinklers for the winter (except for you southern folk...), etc., the compressor is mighty handy.

Did I mention buy a big one?...