If you can swing it get 2 MotorGaurd filters.
Put one right after the tank exit and the other on the wall at your manifold. Take out the filter and put it back in the box then replace it with a roll of TP. With a water trap before the second unit you'll stay dry and free of oil fumes as long as you stay on top of swapping out the TP filters for your paint sessions.
50' of line (copper seems to be popular) between compressor and manifold gives the air a chance to condense or you can plumb an old radiator or heater core into the line. And don't forget your clean out/drops. I plumbed one with a faucet so I can hook up a hose for blowing up stuff...
