I have "oiles" piston compressor, maybe 2,2Kw motor and maybe 20l reservoir. It's very loud. Therefore I have two smaller airbruch size compressors for other jobs.
I use some air tools very ocassionally when chances are the you don't
a) want to start fire (E.G. working on 1m tall 18m deep space between ceiling and roof)
b) risk of electocution, like rain, water bogged something or too much conductive stuff around
Is some cases compressed air is safer. On the other hand you don't want hose to run amok.
Overall efficiency of compressed air system is very low, you need about 10x more feeder than good electric motor....therefore my compressed air tools tend to be small, but a small low rpm drill still can drive fairly big hole saw on most build materials.
Paint spraying and nailguns work just so much better with compressed air that it's all worth it.
I'm dreaming of small size big capacity, low rpm unit, something like this, but way over 3kW 3phase:
http://www.ferramentaveneta-toolshop.com/Compressore-Gentilin-C330/24Pekka