I think an airbrush is a definite plus for painting, especially vehicles and terrain. However, if you ever want to do more than primer and base coats, you'll have to invest in a good brush and compressor. Probably US$200-300 at the bottom end. Plenty of people will tell you that you can get into it cheaper, and you can. You could get a set up for under $100, but you won't be happy with it after some practice.
Which is another aspect of an airbrush...practice. Just like painting with any other medium, you have to practice. Right off you can do great primer and basecoats, but to start doing good fades, blending, and other special effects you have to practice. Pesonally I feel an airbrush set up is a top end tool for table top gaming modelers, but worth it if you have the time and money to do it right. It will pay for itself in primer alone. If you go with a cheap setup, you'll probably just waste your money and stop using it after a couple of times. Don't buy one of the air in a can along with the brush sets.
You should look at gravity feed (little cup on top of brush) not the side or suction/bottom feed (little bottle on the bottom). Gravity feed lets you add very little paint to the brush so you don't waste a lot. The little glass bottles are cool if you have one for every paint you use, but to add paint, spray, then clean out the bottle you really waste a lot of paint and time.
You need a double action brush. Pretty much anything from a good name company, Pasche, Iwata, etc. It should paint from pencil line to about 1/2 inch. Take a look at what they recommend the brush for. Fingernails, photo retouch, and similar small detail jobs are good brushes for us.
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