Larry, the I-R compressor pictured is a quality unit, but they build high-speed compressors (typically around 3000 rpm), which are very loud and have a high current draw. It's more compressor than you need. HP ratings in compressors are a game; nobody tells the truth about the actual power. When you see the term "Developed Horsepower", that's the HP the motor puts out when it's stalled, a useless number, and general;y about 2X the true hp of the motor.
The important question is, "What are the air requirements of your equipment?" Read the specs of the tools and spray guns you have (or plan to buy), and get a compressor that will satisfy those needs. Most compressors are rated in cu-ft/minute @ 40 psi and at 90 psi. For modeling use, you can probably ignore the 90 psi capacity (unless you plan to use a pneumatic sander). Most HVLP conversion guns require 6 - 14 cu-ft/minute @ 40 psi, and a compressor which delivers 80% of that requirement will be adequate, if your tank is large enough, about a 5-minute capacity is plenty. Figure 2 cu-ft = 1 gal, and go from there.
For example, if your gun uses 8 cu-ft @ 40 psi, that would require a compressor that will deliver about 6 cu-ft/min at that pressure, with a 16 gallon tank. If your gun requires 14 cu-ft @ 40 psi, you need a compressor rated at 11 cu-ft/min, with a 30 gallon tank.