They don't typically "explode," they just rupture. Usually
That being said, this is the death of the majority of compressors, in my experience, especially in the South (high humidity), and a new tank is usually almost as much as an entirely new unit.
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OP, you really need to decide what all you need to do with this compressor, and choose capacity and quality accordingly.
You are going to have a hard time getting the air to do serious painting, for example. Most paint guns want 10+ CFM, which requires a dual-stage, 240V unit, at least. Some of the low end HF guns will work on 6 CFM, but...
Grinding and cutting are the next biggest air-hogs; 6 CFM @ 90psi is about average. A really good 110V unit can keep that up for a while, but probably not constantly.
Impact wrenches should be fine on most of these; a big one will want 6 CFM @ 90psi, too, but most people aren't using them constantly, the way paint guns or grinders tend to be used.
Nail guns and such should be easy.
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I am personally switching over to electric tools, at least in the near term, but if I was going to buy a shop compressor, it would be either that black 29-gallon Harbor Freight unit or a Campbell Hausfield. Those Sanborn units are well-priced, but I have no idea about the quality.