the air compressor I got is 110v and 175 PSI max. there is only 1 air tool it will not provide enough Air for, and I have no plans to ever get a dual action sander that large 
I have done a LOT of sand blasting(think a whole lot of my 1970 Firebird). Without a cabinet you will want large tarps to help you recycle your blast media. and you will need a good respirator.
in a nutshell you can never have too much air compressor