i know you were talking about the continuos run time of a reed valved pump, i believe most of them are reed valved and use a slinger for lubrication.
i don't think single or dual stage really matters that much as far as run time goes.
if i can remember, in the next day or so i'll try to pull the module number off the compressor in my work van and look up a break down of the pump.
im not sure if an electric PTO clutch from a lawn tractor will work.
the mower deck belt does slip when you engage the clutch.
on a compressor with such a short belt, there won't be much if any slip.
i guess it could be worth it to try if you can get a used clutch for really cheap. i know new they are not cheap.
you'll need a pretty big pulley on the pump to get the RPM right.
most of them got stuck in the back of a pickup, so they can get to looking pretty bad.
aren't you in New York?
if so, this one may be worth a look, for parts if nothing else.
http://rochester.craigslist.org/tls/2722668044.html
could buying new be an option?
http://www.sears.com/shc/s/p_10153_12605_00931307000P?prdNo=1
to bad you can't run across what this guy did,
http://www.youtube.com/watch?v=UeAzZ3rj7K4