Not mega fast but yes. I used to use something similar in output but with a smaller receiver on my jack for lifting tractors to do puncture repairs.
I would put the jack under, fire up the compressor then pump by hand (no lever inserted) to take up the free space until it started taking weight then I would leave the air to do the work. It'd be clear of the ground by the time the tyre was deflated and my gear was in my hand ready.