I'll play "devil's advocate" here. When I started back into scale-models (circa late 80s), I used a hand me down old compressor that was already 40 years old. It "pulsed out" about 30 psi and had no regulator at all. I later added a water trap but still, humid weather just about shut my painting down. About five years ago, I made the jump to CO2, and I've not looked back.
I lease two bottles and when one runs out, I take it in for a fill up (about $13). It is quiet, and there are NO H2O issues. I bought a good regulator with two gauges and find that I can fine tune my calibrations better. Perhaps, the CO2 is not for everyone, but it should be considered I'd venture. ymmv...
Gary