Congrats on the new brush! Here is a link to a bunch of answers for new airbrush owners:
http://www.finescale.com/fsm/community/forum/topic.asp?TOPIC_ID=34208
and another by Music City and others from the forum here:
http://www.craigcentral.com/models/pressure.asp
http://www.craigcentral.com/models/thinning.asp
The main thing is be patient, if this is your first airbrush things won't come out like some of the builds you see online here at first... in fact there is a possibility you might be dissapointed in the beginning. Just practice, maybe get a cheap model just to use the airbrush on and in no time at all you'll see a noticed improvement.. It's not a huge learning curve to learn to do decent airbrushing, it just takes a bit...
Other than that, after you try it out the first time or two... come back and let us know how you like it! And if you have more questions feel free to ask them!
Good luck - oh and I don't know the dimensions on the Paasche hose but if it is like most airbrush hoses it will be 1/4 NPT on the compressor side..