compatability?

In genera everything is compatible, but it will probably need an adapter.  I think the connections from the hose to the compressor are fairly standardized, but from the hose to the airbrush most brands are different. 

The nut is the only thing different really, so if you get an airhose with the right size nuts on either end you should be fine. The Eclipse has a 1/8" nut, and I know an Iwata compressor usually has a bigger 1/4" nut (I had to get myself a 1/4" to 1/8" male converter the other day as my airhose has 1/8" in either end). They're quite easy to find, usually hardware stores will have them, otherwise somewhere online near you.

From hose to compressor is just plumbing. All you need are a ruler, wrenches, a channelock plier, and a hardware store.

One thing to consider is plumbing parts. They are cheaper, usually cheaper than airline parts, and are quite easy to find. They will withstand a lot of pressure to. I have them hooked up on an oil line in my car for a pressure gauge and when its cold it will see oil pressures over 100 psi, so I don't think you have to worry about them holding up to 20 psi or whatever you might spray at. Good luck!

I found hat most commercial compresors use the 1/4 connector, and the Iwata hose I got had a 1/4 connector. So did the Iwata regulator I got.  This made it very easy for me to make a connecition to my airtank which included adding an on off valve and a quick release connector for the hose.