I have owned the mini compressor from the first link. It had a different brand name but looks identical. I bought it when I was living in an apartment in Malaysia and needed something that was very quiet. The price was about the same as you have quoted. The machine was very quiet and possible to airbrush with it successfully, but the pressure drops off very quickly and so was very limiting. I had to adapt all the time to what the pump was capable of, the lack of artistic freedom was frustrating.
I have also owned the compressor from the second link, again a different name, but basically the same machine. Although I bought it with airbrush work in mind, I never got around to opening up my super duper Iwata HP-C box and mainly used the compressor for blowing off my work bench. Extremely noisy, but good pressure, and the tank would probably be big enough to get a couple of paint jobs done before the motor kicks in to recharge.
Once you move away from the silent mini compressor, they are all going to be noisy. If noise is not an issue then great, buy the small, cheap tank and live with it. BUT, if you are trying to concentrate on creativity and the pneumatic drill kicks in half way through a difficult stencil operation, it is going to get old very quickly.
I am going to be starting to set up my new workshop in a week or two and so will be looking for a new compressor. My next machine will have the largest tank that I can get at a reasonable price. It may be oiled or oilless, it may be electric or petrol, all I know is that it will have a BIGASS tank.
It may seem overkill for airbrushing a few cranks, but nobody will know except us and we won't tell. Besides, compressors do have other uses that will come about with time. I am looking forward to getting some air-tools for a start. As for pressure, it is all adjustable and easy to dial in.
Dave