Thank you for your answer.
I think I get the difference between these two groups. I am clearly not a blue collar shop guy ... I "run a career" (serious...) during the day but none of my colleagues would ever imagine what I am doing during my time off.
Actually I have a mixed wood/metal shop in my basement which contains a metal lathe, bench top mill, table saw, jointer, band saw, planer and a CNC router with a water cooled high speed spindle which I have build from a kit and a bunch of electric hand tools.
So I would say that I am in between these two groups, I like good professional tools and always buy them if I can justify the extra money. My very personal opinion is that inexpensive tools are often wasted money - and time. I buy tools and machinery in order to work with them and actually produce something and not to get a "new hobby".
However there are limitations and the question what is reasonable for the hobby. If money would not be an issue at all and I would have the space, I would buy the best compressor with a 90 gallon air tank or the best industrial cordless electric riveter - no question. Unfortunately that is not the case. Hence if I finally would decide for air tools, I still would like to buy a good compressor but then the question becomes what size of air tank is somewhat reasonable for the planed job - ups OK - building from a Zenith kit, likely the 750 STOL.
Finally, as long as I am able to use my hands I will always have a shop. I am not really happy without something to do. The longer I think about this the more air tools I can imagine for the wood working shop, a nice brad nailer for example.