I've had the compressor and air hammer for a year or so (the offers come around regularlyish...) and I found the compressor really usefull. Hose length is good as well, able to reach all 4 wheels and the spare of the car from the garage onto the driveway.
Used it for blowing up tyres, blowing through various things that are chocked/blocked, spraying degreaser with the paraffin gun, painting a pushbike frame, blowdrying the brakes/discs of the motorbike after washing, popping the pistons out of brake calipers, etc etc. Best use (really!) was cleaning out our Dyson upright hoover. Once the various air venturi pipes were blown through, it was like a brand new machine again.
As for the air hammer, its not the most powerfull one I've ever used but this could be down to the volume of the tank. If you really are givving the hammer hard use it fairly gobbles the air up and the compressor is almost running non stop to keep up. I tend to wait until its built up before giving it a blast. The hammer is a bit heavy as well.
All in all, I think it is well worth the monies asked and its small enough to take up a corner of the garage and not get in the way. Would not be without it now.
HtH
B