Craftsman lifetime warranty is only hand tools. but they will fix or can get parts for most of their stuff.
I would say get one with a 30 gal tank if you want to use air tools. A 2 hp will do but you will have to wait on it some if your getting after something with a die grinder.
I hate oil less compressors, they are loud and don't last as long.
We buy a ton of compressors from Grainger. They are Dayton brand and seem to hold up pretty well.