I agree with Chuck - you pay for what you get.
First off, that piece of crap gun will waste more finish than you care to, especially if you're looking at pore free gloss.
Second, the compressor definitely shouldn't keep up. I have a 60 gal oiled upright, and to piggy back on what Chuck said again, yes, it throws moisture and oil. But, its quiet, and really good. Just so you know, even with my Sata Minijet 3 (about $250), it still eats enough air to turn the compressor on, yes, even with 60 gallons in the tank. As for the moisture and oil, GOTTA get an inline dessicant, and not one of those little jobs, at least a dessicant snake, with humidity indicator
http://www.amazon.com/CamAir-Desiccant-Snake-DeVilbiss-Refinish/dp/B000UZPPKA
Is it worth it? Yes. I have a $90 PC, and its a piece of crap compared to the Sata, but, I'd rather shoot the PC than my conventional DeVillbiss, simply because its gravity feed HVLP.
On the other hand, if you only have $200, better to get a conventional gun, because the compressor alone to push an HVLP is way more than that.
-Aaron