I recently purchased this Craftsman portable compressor.
http://www.sears.com/shc/s/p_10153_12605_00915309000P?blockNo=7&blockType=G7%2F&prdNo=7&i_cntr=1320369463181 Then I purchased a 1000 watt continuous/ 2000 watt peak inverter made by Vector. I connected the inverter to the battery with the short 6 gauge cables that came with it for a test run. The compressor took 800 watts to run according to the digital gauge on the side of the inverter. I mounted the inverter to the side of my subwoofer box and wired it to the existing distribution block using 4 gauge power cable. Under the hood I have a 100 amp Maxi fuse; I have another 100 amp fuse in the distribution block. I also ran a 4 gauge ground cable all the way back to the battery's negative terminal per the inverter manufacturers directions.
I have approximately $220 dollars in this onboard air system, not counting the dual amp wiring kit that I already had. It takes up a decent amount of space, but as the compressor is portable, it can be easily removed.
In my research I haven't seen an air system as simple, with the features that I have for the price. The compressor generates 2 SCFM@ 90psi and has a 1.5 gallon tank with pressure gauge, and an adjustable output pressure regulator with gauge. The compressor pressure switch is set for 85psi on 150psi off. The compressor came with a 25' coil air hose and a tire chuck; I added a T-fitting with a quick connector on either end at the output of the compressor for ease of use and future use with a locker.
In using a 120 volt AC current compressor, and running an inverter to power it I now also have two AC outlets in the back of my Liberty!