Mike, looks like a nice compressor. What the others are saying is true, but you can always get another one later and T them together. I have a 20gallon sanborn that is similar to that one you have posted...optimistically rated for 5.5cfm@90psi and 7cfm@90psi. It is pretty worthless with my die grinder but gets the small job done, I have an electric 4 1/2" grinder for the big jobs. It is way to light for most spray guns unless it is a small job like motorcycle parts (think v-twin, not crotchrocket bodywork). I do know that mine can keep up with an Iwata LPH-400 spray gun without any issues. The Iwata only needs around 16psi at the gun too atomize correctly. My compressor will maintain 30 psi with the water drains open on the tank and the water separator/filter. If mine is still running when I get to painting the wings and fuselage, I will probably buy or borrow a second one and T them together so they don't run continuously. Wouldn't be a bad idea to rent one of those big trailer type air compressors used with jackhammers for sandblasting. A lot of times if you pick it up just before quitting time on a Friday or Saterday (if they are open) you will only get charged for one day's usage if you have it back by opening time on Monday morning. I have one of those space blaster type sandblasters and my compressor doesn't stand a chance on any part of any size.
PS, I highly recommend the Iwata LPH-400 spray gun. Yes I know it is expensive but this is one place that you get what you pay for. Low air usage and amazing atomization, there is a reason it is one of the top rated spray guns out there and used by many many pros to lay down the clear coat. If you have never used a high end spray gun, find someone who has one and see if you can use it...the difference will blow your mind. It is right up there with SATA and many pros use a SATA to lay down the base and an Iwata to lay down the clear. I bought one last summer after fighting with a home depot gun, my first impression was holy cr** this is nuts! It uses about 1/3-1/2 the paint that the home depot gun used and there is virtually no over spray. And the best part is (other than the decreased paint usage and lack of runs and over spray) that my air compressor has no trouble keeping up. This is one tool that will actually pay for itself over the course of the project in paint savings. I am using Stewart Systems paint. I can only talk about the Ecoprime at this point...it works great. If you are running it conservatively (not running balls to the wall with it) every so often you will have to pull off the little nub that "grows" on the tulip. Easier to show than explain, I just don't have any pictures of it. Don't have that problem when I open up the paint needle a bit more. Anyway, enough of that plug.