Locomotive - Since you have a high performance airbrush, capable of turning out some very nice work, it would be good to have a compressor that would compliment it. A compressor with tank is pretty much a requirement, otherwise the airstream would "pulse" and produce uneven spotty results, plus accumulated moisture could be present.
My first few compressors were of the auto parts store variety, with tank they were efficient, but being diaphragm types were TOO loud. Now I use a Californis Air Tools 1610A, twin cylinder piston type, large tank and so quiet. $180.00, several hardware srores carry them, check for sale prices, I've seen them for $150.00. Best one I've ever owned, wish I had known about them long ago.
Lot's of guys at FSM own hobby types, Iwata, Paasche, Badger, etc. Let's wait a bit and see who else gives recommendations. I think some very good types are available for around $100.00, plus Harbor Freight has some that other members say work well, and are very affordable.
Some really needed features are a pressure gage, water trap and pressure regulator. Those can also be found at Harbor Freight, or other hardware stores.
Hope you get hooked up OK, good luck with the search.
Patrick