Drew,
As you decide what to do...run a long air line or run a long power line, keep in mind both these things can adversely affect compressor output. Long power cords strangle the ability to carry the motor load, and it doesn't take a real long cord to do this.
Friction losses in air line will do the same with the air. Pick the best method for you, then make sure you "super size" the wire gauge or air line size to get you what you need at the end of the line. Good luck.
Stuart
