http://www.ebay.co.uk/itm/COMPLETE-KIT-MINI-PISTON-COMPRESSOR-TANK-AIRBRUSH-CLEANING-POT-/380708296852?pt=UK_Crafts_DrawingSupplies_EH&hash=item58a3fb9894
There you go, better compressor, more suitable airbrush. Lower price point.
Shop around. Theyre not all the same, the one you linked has 2 airbrushes; siphon feed and side feed, you want a gravity feed, so neither is suitable (although both would work... just not as well as a gravity for model painting) .
The compressor you linked has no tank, and thus has a short working time before the motor is hot and needs rest time to cool off. having a tank lets the motor stop when the tank hits the max pressure and it gets periodic resting that way.
You can get a 0.3mm gravity fed airbrush for under £20, which is all you want untill shopping for high end airbrushes. i.e without spending around £100 your not going to get anything better than the £20 ones. Usually the simpler the design the better it will run, the more little tweaks and extra features ona cheap airbrush the more fiddly and annoying it is to use. Conversely on the high end ones, those features actually work as intended and are much less gimicky. The only bonus feature remotely worth its salt is the cut away handles, allowing you to clear a blockage without removing the handle to get at the needle chuck. I've never once found a need for the trigger limiters on the back of the brush, total gimick thats not even helpful
tbh. Itle take mere hours of use before you will probably find that its kinda not useful too
Edit; I use an Harder and Steenbeck Evolution Silverline Solo 0.2mm, Its lush! Amazingly smooth, durable, well weighted etc.
But its around the £100 mark, not £20... good example of what I was saying about needing to spend about £100 to get anything any better than the £20 ish cheap airbrushes. (I've tried finespray, spray master, Badger, H&S, and some cheap chinese ones to base this idea on, do own 4 different brushes they all have slightly different nozzle designs, and H&S win by miles!)