30 gallon 5.2 cfm husky from homedepot. $429 when I got it a year ago.
I like it, but more is always better. That one you linked at 7 cfm would be sweet.... 26 gallons would keep it easy to move.
Mine is not enough for sandblasting but nothing except for what farnham run is. I hate sand blasting anyways. For air wrenches (I run air ratchets and impacts) it is plenty. For my die grinder it works fine too but getting small. For the disk sander it is a tad small. By small I mean it'll run the disk sander for a minute and then the pump kicks on and can't keep up totally but the tool remains functional. By a tad small I mean the compressor keeps up but cycles a lot. Bigger than 30 gallons would be nice in those cases.
I would certainly look for a belt drive low RPM cast iron pump type compressor whatever you do. Nothing against Daniel's machine.. it is perfectly functional, they are just a ton quieter and if you work in the garage a ton you'll appreciate the noise reduction more than anything. Plus for grinders and sanders they aren't typically enough.
Look on CL... You can find some nice machines used typically that are awesome.. at least in the front range you can. ESPECIALLY if you can run 220.