No, I wouldn't recommend this set. First off it being a cheap airbrush isn't the issue it is the whole setup. The way that brush attaches to the compressor utilizes the compressors valve stem so when you turn it on it is already blowing air and you just pull back on the trigger instead of pushing down and pulling back. This could spell trouble and potentially ruin work. Not all handheld compressor and airbrush combos are like this but you can clearly see this is the case in the picture. This also means that the combo is pretty much married to each other and you won't be able to use the airbrush with a hose or use another airbrush on the unit, at least not without spending too much time, effort and money.
The psi is kinda high on this one but you can lower the psi a bit by using the hose.