I used to have the typical little 20 or 26 gallon home compressor on wheels, upright tank. C-H, I think. Worked well enough, although the oilless compressors do make a racket.
Now I'm running a big 5 horse, 60 gallon setup at home. It's the same one we have at work, Porter-Cable I think. As ManofFewWords said, you'll never wish you had a smaller one
This guy will happily keep up with my HVLP guns and the bead blaster. Heck, it'll outrun the spray gun. The oiled compressor is quiet, and bolting it to the floor makes it even quieter. Most people just leave them on the shipping pallet.
One other thing I did with the big one at home was run lines around the garage and put hose reels by the door and above my usual work place. Makes it easy to get air whenever, wherever you need it and keeps you from constantly driving over the hose. Keeps the hoses cleaner, too! Ideally, I should have run hard lines through the garage but I just used rubber lines from H-F and fixed them to the ceiling/walls with conduit clamps.
If you're thinking about enough airflow for grinding, an alternative is to go electric for those tools.
You can usually find compressors at pawn shops. Pop the pump off so you can inspect inside for rust, but it's a great way to rebuild one. I took a siezed pump off a tank that was given to me and replaced it with a H-F unit for a real budget setup that can move a lot of air.