Um, a grinder is going to suck up a lot of air, waay more than a spray booth would. I think I have the compressor you're talking about. 30gal upright craftsman, right? I got it for $300 and it came with an impact wrench, impact hammer, and a tq rachet.

Anyways, your best be is to look at tools that you would use, and compare its cfm consumption to the compressors' cfm output. I'll tell you right now that the 30gal won't be able to handle a grinder or DA gun. I have to run it for a minute, let it rest, run it, let it rest, etc.