What are you using it for ? (don't say painting--I figured that much) I picked this one up and I am very happy with
http://www.dewalt.com/us/products/tool_detail.asp?productID=15014
It powers my airbrushes, Devilbiss SRI and Binks 115 easily and doesn't cycle any where near as much as my last compressor. It's portable and very quiet for an oiless compressor. If you go to the Home Depot web site and apply for the 10% "just moved" coupon you can get it for in the mid $350's.
The motor is a 100% duty cycle motor and it is a seperate motor/pump setup with a drive belt.
I've recently used a cut off tool on an exhaust pipe and it powered it with no problem. I haven't used a DA or anything else with it.
I don't think you could do better with a 120V compressor.
I've used it for motorcycle tins and helmets only so far and it's fine for what I need.