One thing that isn't addressed here and that is the condensed water issue.
No matter what compressor you get, eventually, you will have a problem with condensed water in the lines either rusting (internally) your air powered tools or ruining a spray painting job.
When you compress air, you get water vapor that condenses in the tank, air lines and tools and causes rust and failure.
I have 3 compressors in the shop. I have a large IMC 20 horsepower 30 cfm at 175psi with a 150 gallon horizontal receiver that's inter cooled and after cooled as well as 2 5 horse CH single stage horizontal units plumbed in tandem. All the compressors are feeding a single air system. The IMC is de-rated to 120psi as you never need anything greater. Even a 1" IR impact runs fine at 120 psi. it's all about CFM required. Just before the main inlet to the air system is an IR refrigerated air dryer rated at 30 cfm @ 175psi.
My shop is entirely plumbed in schedule 60 white plastic pipe utilizing 1" main runners and 3/4" drop lines terminating in ball valves with drip legs and Milton QD style female disconnects. I incorporated the drip legs just in the event that any condensed water finds it's way past the air dryer, which it does. Always better to be safe than sorry. Plastic pipe has many advantages over metal lines, most notably ease of installation. All you need is a good plastic tube cutter, plastic fittings, primer and solvent weld glue versus threading dies and a bunch of iron fittings not to mention the cost of iron pipe. Plastic piping isn't prone to internal rust either. Rust particles in the air stream can cause tool failure or stuck valves.
At the inlet end where the compressors feed the main 1" runner, I used 1 wire hydraulic hose with NPT ends to mate the compressors to the runner, eliminating any vibration to the hard piping.
At the exits I have a couple of FRL and FR sets to plug in as needed. Mist lubrication is essential to tool life. Without internal lubrication, the air motors will fail quickly and the filters pull out any water droplets from the air stream before it reaches the tool. I tend to use Marvel Air Tool oil in my lubricators but there are many other good brands on the market. Don't use regular motor oil. Motor oil will eventually gum up the air motor as it emulsifies with the incoming air stream.
Any tool that is either stationary or is hard to couple has an in line lubricator attached, like my Lincoln bulk greaser or my IR overhead air hoist. If I need air outside, I just attach an air hose to an outlet.
One thing to note here is that many shops, even home shops have plasma cutters and plasma cutters require VERY CLEAN MOISTURE FREE air. To that end, on the air inlet of my plasma I have a Motor Gard cartridge filter that removes all the moisture. Moisture will, in short order, foul your plasma gun tip.
Whichever compressor I am using, whether the IMC or the tandem CH's, I drain the receivers daily or when I'm done using them. I also crack the ball valve on the main run to drain it. When I'm not using the compressors for any length of time, I drain the receivers to ambient pressure. I also change the compressor oil yearly and clean the intake filters (Solberg) monthly. I use Mobil Rarus synthetic compressor oil, but again, there are many good brands out there. Just be sure to get the proper viscosity.
I have had all my compressors a number of years with no failures. A little preventative maintenance goes a long way. Compressors and air systems are probably one of the most overlooked and neglected tools in any shop, that is, until they fail at a crucial time.