My first move would be to do the legwork to really find out what it would cost to put either of the high quality compressors into reliable, safe condition.
Then compare that cost to what you can get for that same amount of money in a new compressor.
If it ended up being .. say $2000 to get either one of the quality compressors into a condition that would work reliably for 20 years, then that would be the route that I personally would go in a heartbeat.
I used a 1930s vintage compressor for a while, still had the original motor ... wife made me get rid of it when I left the power on and it tried to cycle on at night with a failed unloader valve, smoked the motor and filled the house with smoke.
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