First criteria on a compressor is what you are using it for. The term is SCFM (Sustained Cubic Feet per Minute) of air being compressed. The rating is typically given for two PSIs (90 and 40) 90 is the pressure for most rotary air tools. 40 is for things like HVLP (High Volume Low Pressure) spray guns. If you are using an air powered sander you'll need 8+ SCFM at 90. A full sized HVLP spray gun will need at least 8.5 SCFM at 40. For one-at a-time furniture spraying, they also make what is called a "touch-up" or "Stencil" or "Mini" spray gun (not to be confused with an air brush, which won't do the job). They will take about 5 SCFM at 40.
You can sometimes get by with a less SCFM with a bigger tank, especially if your tool use is intermittent, as this gives the compresor a chance to catch up. I have used a DA air sander bottom finishing boats using my 6.8 SCFM 26 Gal tank compressor without problem (I burned up two craftsmen 5 HP 10 Gal tank ones and I would have to stop sanding every 3-4 minutes to wait for them to catch up). You will have to wait until it pressurizes the tank tho, so the bigger the tank, the longer the wait.
Second criteria is durability. Cast iron, piston type, oil bath compressors will last years of continuous use, and can be rebuilt (providing they are decent quality). Aluminum piston oil bath don't usually last as long, even if cast iron sleeved, but will give quite a while of service. Rotary screw oil bath type give more air quicker, but are typically more expensive and cost more for repair. Oilless type compressors use teflon to lubricate the moving parts and do not last as long as oil-bath types, and are usually not repairable when they wear out. For occasional use, tho, they should do fine.
Third Criteria is noise: Cast Iron is quietest. Aluminum is very noisy. Piston is quitest. Rotary is noisiest.
For the criteria you stated, pretty much anything that will get the air pressure for you tires will work. I would go with at least a 5 SCFM withat least a 10 gal tank if you want to get the "Mini" spray gun for furniture finish. However, if you plan to bottom paint that boat you're standing on in your avatar, I would suggest the 5 Hp 26 Gal Campbell Hausfeld "Exteme Duty" Cast Iron compressor as a minimum. That is what I have. It is so quiet that I can run it in the garage, and the wife doesn't realize it when she's watching television in the room on the other side of the wall. The downside is the cost (don't know what they are running these days, I've had mine for about 5 years) and the weight (300 lbs.).
The bright side is that there are a lot of compressors on sale in combo packs today, and you can probably get a neat new toy with it!!:-D
Probably way TMI, but I hope it helps

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