Hey Gus,
I'm still new to R/C Tanks, but I've been building static models for 45 years. Not to brag, but I've actually had work displayed at the Yankee Air Museum. I've tried just about every airbrush there is from Testors to Badger and I use an Iwata Eclipse HP-CS. You can get them online for very reasonable prices or you can get them at Hobby Lobby, just make sure you get the 40% off coupon. The Iwata is a tad more expensive (around $120 is a good price) but it's the finest all around airbrush I've used. I did this FW190 in 1/24 scale, mostly freehand. As for compressors, I use the $40 pancake compressor (3 gallon) from Harbor Freight. You can spend hundreds on a compressor but I'm very happy with my el-cheapo job. Just make sure to invest in a water trap, no matter what compressor you use.
Hope that helps, and if you have more questions just fire away. :-)
Gary