I'll vouch for hose reels - I have one in my current shop that will
reach pretty much any corner (it's a small shop). It's a cheap 50 foot
reel from J.C. Whitney; I'm fairly certain it's 1/4 hose, and cost me
less than $50. The fitting leaks a bit, so I have a ball valve at the
input, and usually keep a blowgun plugged into the quick connect at the
end.
I'll probably end up buying another one for the new shop, where there
will be two benches that each want an air supply. Coiled yellow hoses
are neat looking, but my air supply probably won't be at the ceiling,
so I suspect they'll mostly be in the way.
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