wrote

I like "A". If it's "B", will my 3 hp motor run this pump? A 5-hp
motor from HFT is $300.

My bet is that it will work just fine. If it has a hard time, it would be
at start, or finishing topping off the tank. The worst thing that could
happen is that you would have to put a smaller pulley on the motor, or a
larger one on the compressor. That should not hurt any working ability,
since it would pump air more slowly than the bigger motor, but the bigger
pump will have the ability to pump more air, so it should be a wash.

The bonus of the whole thing is that if you can keep it the same, it will be
able to pump more air at the lower pressures. Even though you say you don't
need it to do more that you had, I've never met anyone that could not
occasionally do with more air!
--
Jim in NC