Let's talk compressors (for the shop)

I've had it with being hamstrung by not having a decent air compressor for the shop. The longer I go without one, the more I realize I need one. I need to begin researching what type compressor I should consider. What better place is there to start than with you guys? I'm sure plenty of you have compressors that you are either happy or disgusted with. Let's discuss your pros and cons.

I want one that can handle air tools that require a fairly constant flow and pressure, like a dual orbiting sander, in-line file, die grinder, cut-off wheel, and paint gun. I can go either 110 or 220 volt, it will be located close to my breaker box in the garage. Nearby, I have Tractor Supply Corp., The Home Depot, LOWE'S, Harbor Freight Tools, and Sears. I also get catalogs from Northern Tools and Enco.

Give me your two cents worth,
Jerry