olympos and iwata are pretty much on par with each other - some
users prefer olympos (which i think has better balance and a
smoother trigger) but some people live by iwata. No choice
now anyway... olympos just folded. But they're definitely
good brushes! $40 is a great deal! They're usually
US$100+ new.
As for the compressor, it is kind of like an air can, except
with noise. The only reason I suggested this one is b/c of
your budget concern - i think in the long run, this is slightly
cheaper than air cans (?). The ones they sell here in
singapore for $150+ (w/o autocut, $200 with) only go to around
25psi and don't come with an airtank - which means, it's
practically doing the same thing but weaker. For gundams,
25psi is ample (except for maybe say... the 1/144 dendrobium or
similar large kits). Ideally, you want one that can goto
around 50psi /w an adjustment valve if you need to spray large
areas, autocut, airtank, filter etc... but that seems to cost a lot
here in SG.