A little epilog.
The Clarke compressor I bought turned out to have some defect problems, and since TSC didnt have another one to swap it out with, they took it back and I ended up buying this one
Amazon.com: WEN 2271 14-Y Amp 2 HP 5-Gallon Oiled Pancake Compressor (Yellow tank): Home Improvement
For $99. Nice CFM ratings (5.2@40, 4.2@90) and a slightly larger tank, 5 gallon vs 4.
Amazon has been bumping the price since I got it, but just dropped it back to $99 and threw in free shipping.
If you want a small, lightweight compressor that can run a framing nailer, this is well recommended. Its pretty quiet (oiled), I can carry it around easily with one hand...its about 45lbs, and i've been using it for almost a month with no problems.
Picked up a nice little accessory kit from sears on sale for $15 with a 50' hose, blow gun, lots of connectors/tips/inflators. Another 50' hose for ten bucks, and that amazon CH nailgun kit for $189.
$313 with taxes only on the sears kit, no shipping charges.
I couldnt find anything anywhere near this price range and portability that still offered the high CFM ratings needed for a framer, big grinder, ratchet or sand blaster. Its probably going to be a little weak for sand blasting, but I probably wont be doing a whole lot of that.