I have a PM 45 also, I went with this IR compressor. "http://www.amazon.com/gp/product/B001NGP8JS/ref=oh_o01_s00_i00_details"]Amazon.com: Ingersoll Rand SS3L3 3-Horsepower 230-Volt 60-Gallon Vertical Compressor: Home Improvement
It is great, you will want to get a better dryer than that HF unit. I was still getting moisture with mine so I replaced it with a Speedaire Desiccant dryer Dryer, Desiccant - Desiccant Dryers - Compressed Air Treatment - 5VC90 : Grainger Industrial Supply
The desiccant lasts me about 1 month per fill and I use the plasma almost daily.
I drain the compressor once a week and i probably get about 1/2 - 1 cup of water per draining.
My thoughts on HF are if it has a power cord to not buy it.
My mind is the compressor is the most important part of the system, besides good clean air.