I think a lot of people overlook the CO2 tanks because they have to be filled and there is a chance you could run out of air while off-road. I can't give enough praise for mine (10lb). It can fill my 37's three or four times from 24psi to 40. I've never had an issue with running out of air on a single trip; I normally lower at the beginning and air back up at the end. There are some added benefits to the tank, generally take up less physical space, no moving parts to get dirty, [as already mentioned] faster fill times, and way more convenient/portable. I use it around the house for little things instead of firing up my big garage compressor.
I knew after the first time filling my tires with a ****** compressor, where it took an hour to get all 4 done, I would never go through that again. Time is the big difference between compressors, so it is all personal preference. A $30 Walmart compressor is good enough for 37" tires...if you have 4 hours to fill a tire. With the CO2, I can have all four filled in 15 or 20 min. If I bought a splitter and a friend, I could probably cut that down to 10 min.