James, I've seen that compressor in my LHS, and it seems to have pretty much everything that you would need.
I run a Werther 3 compressor, with a Paasche Ra75 moisture trap and regulator. The comp. I bought from the link below:
http://www.maywoodgarageequipment.co.uk/oil_less_compressors.html
While the reg. I imported from the US.
There's not a huge difference in spec between the Werther 2 & 3, but I've had no problems with 3 in 18 months of ownership.
All comes down to cost and preference at the end of the day.
Best of luck from another Karl!!!!