I bought this kit because I wanted to have a stab at airbrush painting my plastic models as well as play around for artsy stuff a bit. Now, after a few weeks with it I must say I mostly love it but there are a couple of drawbacks as well. Good: Plenty of constant pressure from the compressor Airbrush is decent enough. I don't know what an Iwata should be like but this model doesn't have any sticky spots am sprays uniform Bad: Lack of a tank means that when you first press the air trigger air comes out at about 40PSI. That's a lot. After a few seconds it settles at 23 PSI, still probably a bit much but ok. After about two hours of continuous work it tends to gather some water in the airbrush which it spits onto the medium. The moisture trap on the compressor doesn't seam to do its job. I bought an aftermarket trap from ebay to fix this.
Because I really really like it, I will probably go now for a Iwata eclipse and keep this one as a color airbrush, applying highlights with a better one. I also need to add a 2.5L soda bottle to the compressor to act as a tank so the little compressor doens't have to work all the time.
All in all, if you buy this from Mighty Ape it's a really good buy, but a brick and mortar shop at almost 300…not so much.