Being I have never had any luck with studio compressor due to they all seem to over heat and have a short life, I opted for the Silent aire 50which so far both the one here at work which runs 8 hours a day 5 days a week and the one I have at home which maybe gets 3 hours of run time a day are both over 7 years old .
At 3.4 liter tank on the Iwata you are getting more tank space at .8 of a gallon vs .4 which the Silent aire shows.