If this is your only compressor, I suggest you look at something that will support more than nailing. The pancakes and other portables support nailers but not much else. If you get compressed air in your shop you, will find a lot of other uses (air tools, sanding, painting, blowing debris out of tools and garage, tires, cleaning lawnmower base, etc.)
My machine is a Campbell Hausfield 30 gallon, 5HP, oiled upright on wheels. It resembles the 60-80 gallon uprights but the whole thing only sits about
4' high and uses a little less floorspace than some of the smaller horizontal tank compressors. I have had it about three years and it replaced another 20+ year old CH machine.
By the way, if your garage happens to adjoin your basement, especially the equipment room, it is pretty easy and cheap to plumb air into the basement. I ran a 3' piece of gas pipe through the 2x10 base plate, from garage into the basement. I put a male quick-connector on the garage end and an elbow and female quick connect in the basement. When I was working on the basement finish I just kept the compressor, in the garage, hooked to one end and had a basement air source on the other. Whole thing probably cost about $10-15.
Even after the basement finish it is pretty neat having compressed air to blow debris out of the bottom of the furnace, etc.