I'm in the market for a compressor... mainly for running air tools and airing up after a run. Can someone help me understand the pros/cons of electric compressors versus belt driven ones? Is there even a place on a 3rd gen 4Runner to install a belt driven compressor?

The obvious to me is that electric compressors are simpler to install, but belt driven are quieter and faster. I'm sure there's more to it than that though.

Extreme Outback offers 2 different compressors for just under $400, one electric and one belt driven. The electric (ExtremeAire) does 4CFM and 150 max PSI with a 100% duty cycle. The belt driven one (ExtremeFlow) does 8CFM and 200 max PSI.

 

Belt driven are much quicker, unless you want to spend way too much. However they are very hard to put in a 3rd gen unless you don't want your AC anymore. I have seen one picture of a bracket that somebody made and some major squeezing to get one in a 3rd. The belt driven also adds one more pully so an automatic loss in horsepower on or off.

The electric is louder and slower but for all the more often it gets used a little noise and a couple extra minutes to air up is no big deal.

 

Just convert your AC compressor, works great.

 

I'm not a real fan of the onboard compressors, and losing the AC isn't an option- nor is there room to run a second compressor

Have you considered a Power Tank or a homebrewed CO2 system? The 10lb set up doesn't take up much room, and has sufficient capacity to run an impact wench for a short time. They air up tires faster than all but the superduty belt drive compressors...