If you are looking for lug nut removal, that should be OK, but like everyone said upgrade to a bigger tank if $$ allows. But it really depends on what you want to use it for . Me personally, i dont even have an air compressor anymore. Sold it years ago. dont really see a point. cutoff wheels-forget it cut for 1 min, wait 5 for tank to refill??? bought an electric. Impact gun, theres another joke-those only seen to loosen bolts that aren't tight. breaker bar for that, which i always seemed to be forced to use instead of the impact. IMO the only thing an air compressor is good for is blowing things dry after cleaning them and filling tires. Depending on what you are looking to do, you might want to consider electris tools instead. I got my 4" grinder from Harbour Freight 3 years ago for $15 and have used and abused the hell out of it, without a problem. I understand electric impacts are decent also. I bet you could buy all the tools you need (electric) for less than the cost of the compressor. and lets face it you are not saving any electric by using the compressor.
JMHO
Matt
forgot to mention, my compressor was an oilless 60 gal vertical craftsman.