This is the compressor I'm running. Cambell Hausfield, 60gal, 240v, 15amp, 1 phase, oil cooled, 135 psi, 3.2 hp, 11.5 scfm @ 40psi, 10.2 @ 90 psi. I paid $530 including tax last summer (at Steve's Wholesale....it's like a Harbor Freight). This comp is more than enough for what I do, it never runs out of air when I'm using my die grinders, DA's, or cut off wheels.
Other dude is right though, sandblasting does take a whole lot of air. Sorry I can't give you feed back on if mine holds up to that. You may need alot more than 135 max psi.