Rich:
You might want to consider a 2-stage even if you will never need to use 175 (or so) psi for anything (although it is just dandy for filling up portable air tanks, or running a tire machine).
I have a Quincy QE-5 2-stage that I run at the max allowable rpm of around 1,000 so I can get about 25 cfm out of it @ 90 psi. What I'm getting at is that I think you get better overall performance out of a compressor if it cycles on and off well above your regulated (at the compressor outlet) pressure. Mine is regulated at 120 most of the time, and cycles between 140 and 165. If it cycled between 90 and 120, or whatever max pressure your single stage would put out, I think I'd go nuts listening to it going on and off. And although I'm not prepared right now to back this up scientifically, and as usual, could easily be full of cra*, I think you might just (as some others here might have alluded to) get more cfm (and get more work done, especially with "air hogs" like grinders) at a given regulated pressure if the tank is at a significantly higher pressure than what the regulator is set at. I've tried it both ways and it just seems to have more "****" at the higher setting. (Can I say "****" in here? One way to find out I guess).
I do love my Quincy, and have always heard that they were hard to beat. I got mine well-used, and after new reed valves, high-side piston/pin, and a new tank, she'll go for a long long time. I work it pretty hard, too - a lot of pressure sandblasting (1/8" nozzle at 90 psi) and she gets plenty hot, but keeps chugging.
I know I'm overdoing it - I think a good rule of thumb would be to use only 1/2 as many cfm on a continual basis as your (reciprocating) compressor can put out. They do NOT have a 100% duty cycle, far from it - for that, you need a screw-type - another item on my wish list.
Have a blast, John
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Hehe - that answers that question - you indeed cannot say as* in here /forums/images/graemlins/smile.gif