We are talking about the cheap compressor solution here. The 60 feet air hose can easily double the $40 cost of the compressor. Besides, it is inconvenient to have to put away the long air hose each time after the modeling session. Few family will accept leaving the air hose stringing around the house all the time.
Most modeler cannot afford the Badger Million-Air compressor you recommended. But they would still perfer to have a compressor that is quiet enough to be in the workbench area and can hear the family when they call. There are many compressor which can fit this bill.
Again, it is a personal perference that how much noise you choose to live with while modeling.