Compressed air is the same as high pressure air, nitrogen system, HPA, etc
The air you breath is about 78% Nitrogen, 20% Oxygen, 2% CO2 or misc. So many people call compressed air "Nitrogen" because it's mostly nitrogen.
Mike from techpb also best explains the differences between CO2 and HPA systems. Link is below:
http://www.youtube.com/watch?v=alc0650GY0w