I have had no problems with this compressor or the nailers since purchasing approx. six months ago. I have used this system 2-3 times a week for trim work, and have put up approx. 2000' of trim in my house w/o a single misfire. The amazon link I previously posted has 31 5-star reviews and 4 4-star (from what I remember off the top of my head.) There are a coupe of guys on my street that own this same system, and I have not heard a single complaint. PC has a break-in procedure to "seat" the compressor, and they state in the manual that the life will be dramatically shortened if not followed. Since I don't hang out on woodworking boards, I really cannot say if PC has a good or bad rep. Obviously you have heard bad things and that is something to question me on. But from my experience, this has been a good investment.
If you still have some reservations about PC, look at overstock.com. They have Schultz (sp?) compressors marked down. I am not familiar with this brand, but the pricing suggests they are rather high end.
Best of luck and please keep us up-to-date on what you decide and for what reason.....Colin