For 260 bucks including accessories, you can't expect to get much of a compressor. What you have here is the pump from a pancake compressor mounted on a large tank. It will be noisy and will take a long time to pump up. It will be fine for airing up tires and operating intermittent-duty tools like an impact wrench. It won't keep up with high-volume tools such as a die grinder or paint gun.
Question: Do you have 240 volts in your garage, or is it practical to install 240 service? If so, that opens you up to a whole different class of compressor, one that can last you a lifetime.