I don't use stripper since I tired of the comments from my wife when I said I was going to the garage to do some stripping. I bought one of the cheap HF 7" sanders like tinman has. You can get an add on standard rubber back to use commonly available sanding disks. Start with the 36 grit and go fast, they remove paint in a hurry. Keep moving, they can remove metal as well as paint and can build some heat. Switch to an 80 grit to clean things up a bit. You can also use that sander on high speed with a shrinking disk when you get to that stage. I've used the 3m disks that Ax uses with some success, but I generaly use them on smaller parts. I've found the 7" to be faster on large pieces. If you go the stripping disk and drill route, don't bother with the HF disks, they don't last. 3m and norton seem to be the brands I've had good luck with, and that goes for sandpaper too.
Stephen uses a DA, and that's what pros use, but I've found DA's to be air hogs. I've got one, but my compressor won't run it effectively so I've had to fall back to electric tools.

 

IMHO The cheaper the air tool, the more of an air hog it is going to be. The difference is in the tolerances of the air motor, the shafts, seals etc. The cheap tools use an oversized inefficient motor with a lot of friction and leakage cooled by leaking a lot of air. They will free run at low air pressure, but stall out in use unless supplied with high pressure high volume. A high quality tool will use a high quality properly sized close tolerance motor with high quality bearings and low friction seals. It uses the supplied air to do work, not to just blow it out the exhaust. I have 2 DA sanders, The first is a < 50.00 IR and the second is a 300.00 Dynabrade. The IR will stall out when touched to metal at the same air pressure setting the DB will sand away like a champ and the compressor will run 1/2 as often with the DB. The other difference is the sound levels each produces. The IR screams so loud that you need to wear hearing protection whereas the DB burbles happily and comfortably. Finally the IR is heavy and off balance and gets tiring to use quickly which results in using it improperly, The DB is 1/2 the weight, feels like it's part of the body in use. Bottom line you get what you pay for in air tools. Buy the low end stuff for short rare occasion work, and spend the bucks on the tools that are used for extended amounts of time. In my experience most everything Harbor Fright sells is barely usable disposable wall decoration "tools" best used as loaners to the neighbors where their poor performance will hopefully discourage them from borrowing any more from you.

 

Yes the HF air tools suck big time. But the few electric power tools I have bought there(like the sander I mentioned) are actually pretty tough to kill.

 

Some of the small HF air tools are alright, I have a few. Their electric tools are somewhat better, kinda like a computer, they either work out of the box or they don't. Biggest issue I have with them besides being course and clunky, is that HF doesn't really stock parts. They strip the returned tools and when the commonly needed parts run out, that's it. Even different runs of the same tools are not always parts interchangeable since they may be made by different factories.