I don't personally have experience with that paint system, however for a little more cash, you can buy this compressor:
http://www.harborfreight.com/air-too...sor-67847.html
and this paint gun:
http://www.harborfreight.com/air-too...spray-gun.html
this is the combo that i use to paint. the compressor keeps up just fine with this gun, you can adjust the pressure output right off the tank, or get an in- line one and attach it to the butt of the gun. The spray pattern was a bit off at first when i used it, so i got the cheapest primer i could find and started spraying all of my scrap steel that i had laying around until i got it to flow how i wanted.
for a 14$ paint gun, it's pretty hard to beat. And at the end of the day, you will have a decent air compressor and a paint gun. (I run a 1/2 impact off this compressor as well) no problem.
just my thoughts.
