My friend uses a compressor like that for his shop and it works fairly well. The one he has is just a single pahse moto and one pump though. It's a Speed Aire I believe, I know it was used for HVAC controls before. Was something that they pulled from a job at the HVAC shop his uncle owns.
Not high pressure, but it goes to 120psi-130psi if I remember correct so it would run most air tools. I know lots of guys are used to shop air being 150-175psi, but I try to keep my tools closer to 90-100psi unless I need the extra pressure.
IMO it worked just as well, if not better as my oil less Craftsman compressor, and fairly quiet as well.
Those look like single phase motors. Even if they are 3 phase, if you got the compressor for cheap ($100-200) it wouldn't be that much money all said and done.