Well, my first post here.
So here goes.....I'm and avid hobbyist and a Journeyman Millwright and I also would agree with most in saying no to ditching air- ever!
That being said I do use my M18 stuff pretty regularly at the foundry where I work. I have burned up both the 3/8" and 1/2" impacts and drill, 3- 1/2" impacts, 2- 1/2" drills, and 2- 3/8" impacts in the last 2 years. I use them HARD and they don't stand up(MUCH harder than most people would and that they're designed for I suppose). To be fair, I love the 3/8" and the drill. They don't come close, AT ALL, to my Snap-On stuff at home. Period, done the Pepsi challenge, but I still like them.
My newest air tool is my 2135Ti - it's light, strong, awesome and is 14 years old now. I only use IR air tools, my oldest one is a die grinder I inherited from a retiring co-worker and is from the early 70's and still hogs through cast iron, stainless, etc. with zero issues. The average age of my air tools is 19 years(when I started my apprenticeship). The air tools ready to go everyday, all day long. Just use oil. They're also rebuild-able, and dollars to dollars, can't be outdone.
Air compressors that are of higher quality are also rebuild-able and as such I would spend some time searching Craigslist and so on for used units, estate sales, farm sales, etc.
Long winded, I'm sorry, but I can't see a way to not have both really.