For what it's worth, I went to ebay a few months ago and scored a used Paasche VLS airbrush complete kit + Badger Whirlwind compressor for just under $70. The badger is an oil-less piston type compressor (note: the Whirlwind II appears to be diaphragm type), and seems to work quite well with the Paasche airbrush. If you're not opposed to looking at used equipment, I think it might be worthwhile to check to see what's on eBay.
Larry