At my job we use 1" black. I have helped friends install black pipe, PVC (yes PVC), and copper (commercial grade which is thicker). I have the rapid air which has worked. I would say here are pluses and minuses for them all. Black pipe you will have to hav a filter for the rust and particle...
Looks like something I used in a shop I worked in years ago. The one I used did not have the Jacobs. The bits used were tapered. I think the old man that had the shop made the switch by out the chuck. He had me drill so many holes in I-beams you'd expect me to remember. Good luck.
I have a 30X32 I just put up. I know you have to be excited! I went with 12 foot ceiling for the car lift I added. I lived in Killen when I was stationed at Ft hood. Alot of room out there. I'm surprised you're going so small. LOL I would die for a 30X50!!!
I just did a quick check and the Craftman I have looks like the http://southjersey.craigslist.org/tls/2701480752.html
I checked out the the CL in my area. Looks like you'll be buying a SnapOn
This is an awesome forum. I was following (I think Red Leader) on his thread and was really impressed with the work he's doing on the two car garage; I just had to register. I hope I can learn something and perhaps give some insite as well. I'm still working on a pole barn garage I had put up...