personally i think a compressor is nice to have but very far down on the non essential list - other than inflating tires what do you use it for ?
- air cut off and impact driver would be the only things i would use other than inflating tires.
but i already have a dremel , 4 inch grinder , 240v impact driver and a good quality track pump.
sort of agree on the quality tools front BUT unless you can inspect in person dont buy used tools off ebay. Its a good way to get rid of worn and knackered branded tools - some idiots will pay anything for a name.
you can pick up just as good tools new from different brands for much much less - id rather a quality tool new than a branded posh used tool for the same.
there are exceptions to the rule but many hand tools are high use high wear items so try and buy them new.
tool boards are great till you want to take your tools anywhere..... my chest i just pick up the top chest (which has all the bike tools in) throw it in the van and go - doing race support or the likes.
i do have a second set of common tools such as allen keys and screw drivers bolted to the wall though.