I bought one of these, http://www.amazon.com/Iwata-Medea-Studio-Series-Single-Compressor/dp/B000BQKMW4  about 2 years ago and I absolutely love it. I use it all the time and it still works like the first day I got it. I used to have one of the larger compressors with the air tank from Harbor Freight and while it worked great it was just too loud and cumbersome. This one is really quiet. I can spray any time day or night in my house and it doesn't bother anyone.

If you plan on sticking with the hobby I would say its definitely worth it to fork out the cash for a quality compressor that suits your needs.

hope this helps.