AAA is a great option.
However, i'll be contrarian here.
You can get away with single phase and a 30 gallon tank *if* you use the right compressor.
I say this because I did it for many years.
Single phase, 5 HP compressor:
15.2CFM@100psi (IE plenty for the 15CFM@*40*psi guns). Rated for 100% continuous duty, discharge temp is ambient + 30 degrees.
It's also 46 decibels, and it's pretty much the quietest thing i own.
You could also use the right type of rotary screw compressor, as someone said.
These types of compressors are meant for continuous duty (in fact, the rotary screws often have maintenance issues if you have too *low* a duty cycle)
You would never be able to use a piston compressor, as someone said, it will get too high of temperature because it's not meant for a duty cycle like that. You will destroy it pretty quickly.
The one problem you have with single phase in any case is the start/stop cycle, not the temperature.
A lot of the single phase rotary screws will unload the compressor but keep the motor going, because 5HP single phase motors don't really like large numbers of start/stop an hour.
The scroll manual above even says this, and basically says "use whatever it takes to limit start/stop to 10 an hour". I did fine with a 30 gallon tank, though they recommend 60.
You could also just make it unload like the rotary screws, etc.