The 2 biggest factors that affect the air "quality" are the humidity of the air going in and the temperature of your work area. I've seen a lot of people speed big bucks for an elaborate set up, and then get bent out of shape when they still get moister in their air.
Think about it this way, your air comes out of your compressor warm, if you send it to a tank, it will cool and release moister. If you place a moister trap between your gun and your tank it will help, but you'll still get moister.
If you spray inside at room temperature in an air conditioned environment you may only need a moister trap.
If you spray outside (garage type area) in relatively low humidity than all you need is a moister trap. If you spray in high humidity an air dryer is the only thing that will eliminate moister.
If you spray in a cold area a moister trap will not be able to keep up and you'll need an air dryer.
In my opinion an air tank does raise the amount of moister in your set-up, but it's not as big a factor as the quality of air going in.