Watch your local craigslist for a good used compressor. Mine is from the 70's and still going strong, although I did have to change the motor from a 3-phase to 1-phase it was still a great deal at $300. (plus $150 for motor)
If you find a Worthington or old Eaton for cheap snatch it up. Can still get parts for both even after all these years.
I bought a dinky hose on a whim from the local welding store, it's a 'Flexeel' hose, so far I LIKE it! We'll see how durability is, but it's so small OD I can leave it in the utility room coiled up so it'll probably last a good many years as little as I use it.
"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
-- Benjamin Franklin