Lane,
Please take this as I intend it. You're a good guy, but you seem to be of two minds here.
Whether you want to admit it or not, you like working on your own car-- or you at least find yourself in the position of needing to. You need tools to work on cars. Period. Even guys that have decent shops within striking distance need a fairly basic shop to do stuff. A compressor is a very, very basic shop tool-- along with a vice and a floor-jack and a grinder of some sort. Welders, torches, battery charges, A:F meters, etc. are all nice, but you can probably get it done without. You just need a compressor.
I tend to go overboard on stuff like this, but I've got an 80 gal upright, pressure lube compressor, piped all over the garage. It's not fancy-- it cost less than $400 when I watched the sales. I've got hose reels from Harbor Freight in all the corners. I've worked my way up the food-chain to get to this point, but I had a standard compressor when I made $10/hr, so it can't be about money.
What I have is extreme, but it allows me to do lots of stuff. An air-compressor is not just about putting air in your bike tires-- getting something big enough allows you to take your shop to a completely different level. I can run air-tools, including an impact gun big enough to hammer on the axle nut to 450 lb/ft. I can paint with an HVLP gun. I can powder-coat. I have a blast cabinet that allows me to media blast parts, etc.
... and I can buy and use a leak-down tool for less than $40, without wondering about how I'm going to get it done. Accumulating some tools keeps stuff like this issue with your engine from becoming a protracted nightmare. Tools allow you to find out what is wrong and fix it. Along with opposable thumbs, tools separate us from the apes.
You are a smart guy, and you want to know what is wrong with your car. I can tell you with some certainty that at this point in history-- you may be able to hire somebody to work on your cart who has better tools, but not somebody with more native intelligence.
... but you need tools to figure this out.