Is this worth buying?

I wouldn't.

You can get an Iwata starter kit for as low as $194.00. And I feel you would be very happy with the Iwata, for years to come.

Check out chicagoairbrushsupply.com and go to "Starter Kits".

I have an Aztec A4709 with 6 different size nozzles, it cost about 110 USD. 

Chinese clone of the Badger 150 and a cheap compressor. I'd avoid it, myself.

An airbrush and compressor are major purchases for most modelers, and trying to cheap out will only bring you disappointment. My recommended minimum budget is $200 before S&H with more money being invested in the compressor. Bear Air has some combo kits just above your indicated price range that at least offers a Peak or Paasche airbrush with a cheap compressor. At least the airbrush is better!

If i didnt know the brand name, i wouldnt get it but instead just get a paache H single action AB which rum about 90 dollars with the hose, paint cups, and a few different needle sizes and a begginers airbrush mannual all you would need is a compresser, i have this deal and it works real well and is simple to clean