As already mentioned cheap compressors often lack the 'dryers' that are present in high specced compressors used for paint spraying, and industrial use. They will very likely blast a little water into the system. That said, if the PC is turned off, and given 30 minutes or so to 'dry out', it will probably be no more water than your PC would experience on a humid day. Cant see any long term damage being caused. Its not going to make your PC soaking wet.
I just use an air duster cans, they are cheap available in PC shops and online, and very effective. Way better than vacuum cleaner as they dont have the 'static' issues. Just blast everything out and then vacuum the room afterwards.