An added benefit is you could power your air-tools with something like this without having to convert to electrical energy. As a former off-gridder, that's actually a really big plus. Another non conventional way to store energy is using gravity power modules (example: http://www.gravitypower.net/ ) Storing hydrogen from electrolysis via solar panels also sounds interesting. Basically once your batteries are charged…
The direct use of compressed air is interesting. Taking it to the extreme, you could have compressed air as your primary utility piped through your home, and have appliances that run off compressed air. Refrigeration cycle is compression based anyway for example. You would still need some electricity for control circuits for example, but you might be able to keep the heavy lifting air-based.