I use an air compressor, too. Not super-high pressure, like 40-50 lbs., after the gun has been field stripped. I prefer the idea of blowing the loose stuff out and away from the gun. I don't want to step on anyone's toes - cleaning guns is almost as individual a ritual as how people bathe (and I'm not getting in the shower with y'all :lol

. But these two videos won't hurt to watch. They're for a Glock, but the SR series guns are similar enough that it won't hurt.
Be judicious with your lubricants. Too much is too much and it collects gunk. I can attest to this myself. I trend toward these two videos in terms of lube and overall cleaning philosophy:
Part I:
http://www.youtube.com/watch?v=DZf4mUM10Vc
Part II:
http://www.youtube.com/watch?v=7VTIqAMPOco
On the strength of his two videos and other recos' I bought some Ballistol and I'm pleased with it. The Hoppes stuff really does work (and it smells incredible) but I like the Ballistol also. In fact I've used the Ballistol on some assemblies in printing equipment I own and I like it a lot. I have nothing bad to say about it except that I can't find it in a lot of places.
http://www.ballistol.com/
I love the Hoppe's Silicone Cloth for the slide and shiny parts of my SR9. It lasts a LONG time (in fact at first if anything it is oversaturated) and it makes the slide look terrific on my SR9, bringing out the grain of the metal and just generally shining it up and making it look pretty when you want it to. You should consider wearing latex gloves if you're going to use the cloth and then go and eat an apple or a piece of fried chicken or something. If you have to worry about eating the cloth, stop yourself now.

.
http://www.opticsplanet.com/reviews/reviews-hoppes-silicone-gun-reel-cloth-1218.html