For sixty bucks, a Badger 180-1 is an excellent choice. I've had one for the past several years, and my only real cause for any regrets was simply the price which was a lot more tham your sixty. I've never used the 180-11 with the auto-shutoff so I can't say how much you'll miss out on not having it. I've never wished that I had that feature. At first I used an outlet strip as suggested by Jesse. Later when I built my paint booth, while wiring the lights and fan, I also wired in a switched outlet for the compressor.
I don't know how easy of hard it would be to put a tank on it. Based on my experience wih the same compressor, I don't think that you would experience any benefits from having a tank, assuming it's even possible to adapt one to it. Under a no back-pressure situation, i.e. you've taken the airbrush off the hose, you may be able to feel a bit of pulsating, however, with the airbrush attached, you get steady air pressure. Speaking of air pressure, assuming it doesn't have one already, you'll want to get a moisture trap/pressure regulator/pressure gauge for it.