[Cajundaddy]

I like the subpanel idea better.

I'd use 4x #6 wire to the subpanel up to 50' run and a 50A breaker at the main. I'd run #12 wire for the plugs and compressor with 1x 115v 20A breaker and 1x230v 20A breaker. This way you have enough wire to run power tools on your outlets and reserve capacity on your 230v circuit and your panel for the future. Pretty standard stuff.