An alloy dive tank or a tank like Bill's CO2 tank would be my first choice. Alloy does not corrode like steel and is overbuilt for the pressure.
Gotta play the Safety Nanny now that we are talking about compressed air...
Everyone, PROMISE ME you will go drain your compressor tank today, tomorrow, or some time this week.
If you have an older tank and have not looked inside, many have an a inspection port in the bottom, often where the drain screws in. I leave my drain just barely leaking a teensy-tiny bit so it auto drains, especially important through the humid days of summer. (Keep a margarine container under it to catch the rusty water!)
A friend gave me a small compressor he had used for years. I pulled the inspection port and the inside had a nice rust layer where it held a fair amount of moisture for some time. I was able to get a finger on the rust and it was smooth so I do not believe it had eaten too much metal. I oiled the tank with light oil and let it drain a week before sealing it back up and using it. Great little compressor.
Another friend got one from a buddy to use rebuilding cars. His neighbor on the cul de sac was a car guy and also had an old compressor he had inherited from his dad. My buddy was in his garage one day and heard what sounded like a bomb blast going off. He ran out and saw smoke and dust coming out of his buddies garage. Then, he heard his buddy yelling, "WHAT THE..."
His compressor tank ruptured while he ran to the kitchen for more coffee. A piece of the tank embedded itself in the front of his car. Other smaller pieces were in the wall. It would likely have been fatal to anyone in the garage and for anyone who managed to survive, the explosion would have likely ruptured ear drums.
Upon hearing about the explosion, my buddy's wife insisted he send his "old" compressor to the dump and she sent him out to get a new one.
As for the light alloy tanks like the WWII oxygen tank, I would NEVER use those. Aside from interior corrosion, aluminum starts to stress crack after repeated pressure cycles. Airliner fuselages show signs of this after a few years as cracks begin to form and that is only after an 8.65 psi differential. Pumping up to 100 psi accelerates the stress cracking. Notice the wrap banding on that tank? Its for stress, an to keep the tank from exploding in case it takes a round. Remember, most of those WWII aircraft were designed to last only 2-300 hours before they were lost in combat.
Be safe out there...