I had two of the "oil free" compressors blow up on me (literally) before I learned my lesson. Fortunately, both compressors were still under warranty so I didn't lose anything. I got my oil lubricated Sanborn compressor 5 years ago and it has worked perfectly ever since. I got mine at Menards, which is a home improvement store like Home Depot.
No one lives forever, the trick is creating something that will.