I can't find it now, but I saw somewhere where someone had adapted a pneumatic T-post driver to make a tamper. Until I saw that, I wasn't even aware they made pneumatic t-post drivers. From the videos I've seen, the post driver works about like super-sized palm nailer. Might be able to do it with an old (biggie size) air chisel.
Edit: Looks like Walmart sells a chicago pneumatic brand tamper for considerably less. Quite the air hog, though, 14cfm@90psi... about like a small sandblaster.