With your power constraints, why not go shopping at Sears. Their Craftsman products will probably have anything you need along with a good warranty. If you ever get a bigger electrical feed, you can upgrade to a little better commercial grade products. In the mean time Craftsman Professional or Commercial grade products will meet most if your needs at a reasonable price.

Don's right about the air compressor. Not going to get much out of a 110 machine. Even my old 30 gallon one is a 220. Of course another way to go since you don't have 220 in your shed is to get a decent size portable gas generator (7500 watts start up should do it). The generator can be used to supply your 220 as well as several 110's. Will have to buy gas though.