It really depends on what you want to use it for. For me, the usage is nail guns, smaller grinders, impact wrenches, painting - all occasional, short-burst activities. A $90 HF 8 gallon compressor has served me well for something like 4-5 years, still running on original oil change, tucked under me work bench, out of the way in a corner. It is loud, but not THAT loud.
Now, tank capacity matters, but not a whole lot. Let's assume you're deciding between 2HP "rated" 115PSI comps - one @ 8 gallon, another one @ 30 gallon capacity.
The 2nd one will take 4 times longer to fill up to capacity - running for something like 4-5 minutes after initial turning on, till pressure switch shuts it off. It will also last 4 times longer, before the motor kicks in.
But, if you need to a piece of equipment that requires 6-9CFMs @ 90 PSI for 30 minutes, neither unit will get it done, as most of these direct drives can only do may be 4-5 CFM @ 90 PSI. They will be running non-stop, still unable to deliver the required volume.
The only alternative, as others have mentioned, would be upgrading WAY UP, to true 4-5 HP comps. If your usage requires this type of capacity, that's the way you need to go. Craiglist would be your best friend in this endeavor.
But, if you're not sure, I'd start with one of the HF's 8-gallon units, pay around $90 for it. When and if u do outgrow it, then you spring for a 60 gallon 5 HP monster
