umm alot of compressors nowadays will say on the box/display what tools they can run(be it constant, intermittent, or not advised). i think most can run a gravity fed sprayer constant. things like DA sanders you have to run intermittently.
sears has a wide selection of compressors. Check lowes as well, we just got a 40gal(i believe) stand up compressor with a 5hp motor for 99 bucks.
as for tools, Harbor Freight baby!(im pretty sure theyre a national chain, right?)
though im pretty sure you can rattlecan the primer coat, after all, youre going to sand most it off anyways, so all you need to do is make sure you get full coverage.
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-Thomas-

1998 Eclipse GST Spyder - 14b turbo | 3" Catback | Evo8 BoV | 170fwhp if that
2003 Redfire Cobra - 448whp/435wtq - Sold