I have a vacuum pump and find that it gives you consistent, and more than enough vacuum pressure. You really don't have to crank it up fall the way on every project. In fact, if you do, the pressure can crush your piece. For most project, I find that 15 inches hg pressure (max is 24) is more than enough.
I have heard that one of the problems with the compressor-based model has to do with potential loss of pressure, especially during its recycling. I don't know, don't use it. Now, you don't have to pay $300+ for a good Gast Vacuum Pump. You can get one from Surplus Supply for about $90-$100, but you must have (or create) a 220V line for it. It is a 1/4 hp motor but is way more than enough. Hope this helps.
Matt