That compressor you are looking at is very common and will work for what you are describing but it will be marginal at best. I don't know what your budget would allow but you would be much better off with a two stage 5 HP if you can afford one but if not that one has done the job for a lot of people, CH sure has sold a bunch of them under their own name and several others. There are a lot of compressors out there but misinformation and outright nonsense from the manufacturers has made it all but impossible to make an informed choice if you have to rely on the sales info and even the specs on the machine itself.
I see you are new here, welcome aboard! If you go to the search function and search "compressor" in the garage-tools section you will find a lot of info on what to look for and what to avoid, unfortunately like 302 said you will also find that the manufacturers all too often simply lie so you will need to know what's fact and what's not. Do that search and if there is anything else you need to ask about the compressor itself or setting up a complete air system then someone will always be willing to provide an answer.