This has come up several times and it always has the same replies - a "proper" 300bar compressor is the best part of £2/3k - if you feel you are safe using £250 very high pressure machine, which if it goes wrong will likely kill you, then that's you call
Usually these are supposed to be used in conjunction with another compressor, but not always, and for the money, risk and practicality, a cylinder seems a more logical way to go, or everyone would be buying these - but they don't.
So I'd say no, and a club should spend £3k on a reputable new one and get it serviced regularly just to cover themselves.
James