But more and more I am using, even in summer, a little compact compressor right next to my workbench. I only have a single trap, right next to the regulator, and for a compact setup it works fine.The only hose is the actual airbrush hose.
If you are getting moisture, however, that is an indication that you do need the second trap. Moisture is a problem if the air- hot right at the output of the compressor- cools too much.
You can never get 100% of the moisture out, however. If the humidity is too high, then since the nozzle of the airbrush is an expansion, you will get cooling there, and possible condensation. But then, the recommendations have always been, never paint on 100% humidity days. Various other problems occur on those kind of days, even with brush painting.