Bill,
Add my vote to the 2 stage, 240 volt list. Another choice is the actual compressor type. If you plan to work her hard my personal choice is the older style cast iron case with crank case
oil and real piston rings. Heat is the main reason for this choice as it is a dry heat here in AZ. The
oil-less type uses a Teflon beer can for the cylinder liner as well as Teflon or some kinda plastic piston ring (only has 1 ring per piston) that simply does not last very long. Many of the
oil-less type have the motor built into the comp. case and the motor is not serviceable.
The stand alone 240 volt motor, 2 stage oil in the crankcase dinosaur will last forever and is repairable if ever needed. Use the tank from the compressor you are replacing as an air storage tank rather than just pitching it. Have fun Bill.