it looks like it would work but you might think about something like the Paasche D200 as it delievers more overall pressure to the brush (it might come in handy later) or on www.badger-airbrush.com they have a nice refurbished modeling type compressor with a 6 month warranty for $99.00.
The only reason I pointed out the other 2 is the one you listed doesn't say how much pressure it puts out, and is cased in plastic, which to me would make me worry about me cracking it or some such thing.
If you are set on it, I am sure it is adequate, but if it were me I would probably look at something with a little more ruggedness and capability. (aboe to shoot more than 20psi of air through the brush)