While a tank is nice, it isn't necessary if you have a proper compressor.

I use and sell the Harder & Steenbeck Euro Tech 10A Compressor, which I believe is made by Sparmaxx, (whom also make the Iwata compressor, as well as many others).

Comes with a water trap, regulator, and braided hose with Quick Connect. Super quiet, and has an electric switch, so your compressor isn't running all the time, only when you need it.

http://www.elmcityhobbies.com/shop/index.php?main_page=product_info&cPath=166_167&products_id=2545