Hi, Tim -
First, I heartily second the recommendation to have a good, long look at "Don Wheeler's Airbrush" website, just type that into the search box. Many airbrush types and manufacturers, plus thorough reviews for each one. Paints, cleaning and maintenance tips as well.
I have been airbrushing for well over fifty years, a few of my AB's are about that age, too. With careful use and good cleaning habits, most AB's can carry on for many years of use.
I have a mixture of high end pricey ones, to very modestly priced basic AB's that do the job perfectly, if matched with the job at hand. Mine are Iwata, Paasche, Badger and Binks. At present my most often used is the Badger 200G, single action, internal mix gravity fed. Super easy and fast to clean. Works perfectly for most of the work I do.
For large area jobs I use the Badger 100LG, another simple and reliable AB, very easy to care for. It's gravity fed, dual action, internal mix. I look for sales at the authorized dealers, like Webaire, Chicago Airbrush, TCP, etc. Reputable and easy to deal with. Many of my Badger AB's had prices from $50-$80, during frequent sales events.
For compressors, a piston type will run cooler, quieter and neighbor friendly. The diaghram types work OK, but are really loud.
Acrylic paints seem the most friendly with regard to smell, etc. I still use enamels and some lacquers, but mostly Tamiya acrylics.
Hey, I wish you good luck with your search, take your time and check around. Once you do go to a good quality AB and get proficient with it, you'll wonder why you didn't do it before. But that proficiency likely won't happen instantly, (it sure didn't with me.) Be patient, loads of fun ahead when you and the AB click together.
Patrick