I recently finished building a Kinyon style air hammer. The ram weight with the die is around 55 pounds. I used a 2x10 cylinder, and it works fine. A 12.4 cfm compressor @ 100 psi should be more than adequate. I strongly suggest that you get a set of Ron Kinyon's plans from ABANA, unless you already have a good set of plans or access to another hammer that you want to copy.
I got my pneumatics package from Power Dynamics which had all the components except for the ball valves, hoses, and fittings. I believe that Kayne & Son Blacksmithing Supply has a pneumatics package that includes hoses and fittings, and I've also heard that Ron Kinyon sells a pneumatics package, but I haven't confirmed that.
You'll need basic metalworking tools, such as an O/A torch, stick welder, grinder, and drill press. You'll also helpful to have access to a chopsaw and horozontal bandsaw. I found that using a magnetic drillpress really helped. It's a lot easier to take a 35# drillpress to a 400# piece of steel than vise-versa. A chain hoist or sturdy engine hoist is also extremely helpful for moving the heavy stuff around.
You can either weld everything together or bolt it together or a combination of both. Mine is all bolted together, so it can be taken apart if I ever need to move it. It weighs 1500# assembled, but the heaviest component is the base plate, which weighs 400#. If you decide to go ahead with the project, I think that you'll be pleased with the results. The KInyon style air hammers can really pound out some work. Good luck!