My shop is just over 100ft from the house. 10yrs ago I buried 6" schedule 40 PVC from the garage to the shop 3ft under ground. In the pipe I ran the power cable, water line and air line. The air line is a single piece of 3/4" PEX.
The air line runs to a water separator then to a holding tank. A manifold comes off the tank and hard lines run throughout the shop.
I have 100PSI in the shop. Never had an issue of any kind and the water separator almost never needs draining..
One of most enjoyable aspects of this is that I can run air tools, plasma cutter etc without the noise of the compressor cycling.
Small compressors are good for running paint guns, nailers and airing up tires and that's about it. Nothing under a true 5HP is going to run a air tool on a continuous basis. Most compressors that say they're 5HP are really 1.5-2HP as the mfg is using "locked rotor amps" to figure HP.... which is total BS.
One HP in the real world equals running amperage of 12A at 120 and 6A at 240 volts. Look at the running amps rating on the motor to find the true HP.
It is impossible for a 120V electric motor to produce more than about 1.6HP