Don't waste your money on pancake, unless you get it for $40 at garage sale or CL. Those are really best from someone needing very mobile compressor to haul around constantly doing brad nailing jobs, etc. (ie consider these "throw away" compressor).
In your lifetime, you may have 2 or even 3 compressors. This first one should be large enough to actually do something, but not 80 gal 7.5 HP as you likely don't have needs for that now !!
Suggest the sweet spot for your "1st compressor" situation to be either:
a) California Air 10 gal 2 HP as shown above
(This is exception that oil-less compressor being loud. These are quiet and excellent quality compressor. The $230 price after discount is great.)
b) Belt-drive oil splash compressor (Campbell Hausfeld, Speedaire, etc)
(Decide whether you like the horizontal tank around 20 gal, or vertical.)
c) Direct-drive oil splash compressor (Campbell Hausfeld, DeWalt, Craftsman, etc) - - - these are smaller like 1.5 HP 4 gal and very mobile but still have long-term reliability since they are oil splash.
Here's website to look around for ideas (don't buy as high prices):
www.aircompressorsdirect.com
Need to determine the CFM that you'll need to run air tools. This might rule out option (c) above.
However, what you DO NOT WANT is Craftsman oil-less, Central Pneumatic oil-less, etc. as these will be screaming loud and drive you crazy !!
