I don't know if you can do a 220 volt compressor but, if you can this seems like it a much better deal.
http://www.lowes.com/lowes/lkn?action=productDetail&productId=134819-48540-K7060HFV&lpage=none
No dought others will also chime in here.
Just something to think about. You'll be surprised how much you'll do with you're compressor once you get it and have some air tools.