Don Stauffer:
I generally side with those saying, spend the money on good tools, and buy one less kit or so.
Don makes an excellent point.
I use a Craftsman compressor with a 3-gallon tank, generates up to 125 psi, and--even better--it can be used with pneumatic tools as well as an airbrush. This is the current version of the model, currently listing for $119.99 in Craftsman's catalog:
http://www.craftsman.com/shc/s/p_10155_12602_00915310000P?vName=Power+Tools+%26+Equipment&cName=Equipment&sName=Compressors+%26+Air+Tools&prdNo=16&blockNo=16&blockType=L16
I bought mine during a seasonal sale, and I paid aroung $90 for it, I think. It does make noise, but I don't care about the noise.
I agree, buy good tools, that will last, and in the long run, you save money (the Frug used to make the same point, "frugal" doesn't mean "cheap", it means you don't waste anything).