Lads,
I have the same compressor in the link Richie posted, and I also have the gravity-fed airbrush although I bought them seperately. I find both of them to be fine and I would highly recommend them.
Like Anto said, it's about technique and an expensive airbrush won't help with that. There's nothing wrong with going the inexpensive route especially when starting out, then by all means upgrade if you feel the need.