Hard data time .... (remember, this thing is the size of a 5 gallon gas can)============== this is what the data covers ==============
http://www.harborfreight.com/cpi/ctaf/displayitem.taf?Itemnumber=95498===========================================
Time to pump up to full pressure (115 psi) from Zero (0) pressure == 60 seconds
Time to pump up from low pressure cut in to high pressure cut out == 16 seconds
Time for an old style (unrestricted) air blow gun to trigger the low pressure cut in == 4 seconds
Time for unending air blow gun use to drain the tank ==
it never happens, after cut in the pressure dropping slows considerably as the input from the 2 hp unit is an appreciable fraction of the outflow of the air gun. As tank pressure slowly drops the drain volume through the air blow gun decreases until equilibrium between 2 hp unit and blow gun drain rate is reached. So, the air blow gun volume/pressure slowly drops to around half speed/volume then it just goes on endlessly blowing at the same rate the 2 hp unit provides.
A modern restricted pressure/flow blow gun would hit this equilibrium point much quicker (and at a higher pressure) than my antique "full tilt" blow gun would do.
How hot does it get? Motor stays pretty cool, crankcase gets warm, iron barrel gets hot, but the aluminum head gets Savage head fins scalding HOT. That protective shroud is there for a reason !!
I'd go along with the current internet "Bobistheoilguy" info on high rpm air compressor lubes and
go with a synthetic compressor oil for this small tightly packed powerhouse unit. There is evidence of oil frothing (it is a high rpm splash lube system after all) so be sure to get an anti-froth package in your chosen synthetic oil.
I would not use a standard non-detergent straight 30 weight dino compressor oil as was sold for the old style low rpm belt driven pucka pucka units sold in years past -- get you a specialty "synthetic" compressor oil.
Bobistheoilguy posts say that Mobil 1 is commonly subbed into these units by cheapskates not wishing to spend $15 for 16 ounces of synthetic compressor oil. Mobil 1 is also apparently used my many industrial maintenance departments and has a decade of good performance data on high speed compressor uses.
Weight of synthetic oil is a matter for debate. If you store your unit in the winter cold, get a multi-weight oil to keep the cold cranking amp draw from tripping your breaker (noted as an issue at Bob's). These high rpm compressors get as hot as an air cooled bike engine does, so the same multi-weight thoughts do really apply here.
Same new oil technology that gets your car to last 300,000 miles will help your high rpm compressor to last a long time. Hey, I know nobody does it, but actually changing your compressor oil every 2-3 years would likely be a smart thing too.