hi
being in the compressed air industry i can help you.
Depending on what the air is used for dictates what filters you should use.
for example, food industry we would use a rotary screw compressor with food grade oil, then into a 1µm then a 0.01µm filter then into refrigerated dryer, then into carbon filter then another 0.01µm to remove any carbon dust.
for laboratory situations we would use the same as above but with an oil free scroll compressor or oil lubricated scroll.
just a concern, 1/4" line would seriously limit the air flow.