You need a regulator, a filter perhaps, but you do not need an oiler! If you
get heavy into air tools a drop or two of oil in the air fitting of the tool
is all you need. Why inject oil into your whole system? You may want to
paint someday but you air lines may be spitting out oil! Not good for
painting!!
Get a regulator and set it at 100 PSI, plenty pressure for general work.
Greg