Could someone please point me in the direction of a cost efficient compressor? Mine just pooped out on me and I am in desperate need of one now as I am just starting the painting phase of my T-62.

I was hoping it would be good, quiet as possible and not that pricey. I remember seeing one from harbor freight for $40USD in which it had a tank that would fill up and allow one to spray silently.

Thanks in advance

Well, if you're thinking Harbor Freight they've had at least one compressor on sale for about $60 that would be good for the hobby. Largish compress with a 1 gallon tank.
I picked up one at Pep Boys a couple of years back for $45 that's still going strong though I did replace the regulator with a better quality moisture trap type.
Frankly, I'd check these places first if money is a big concern (and when isn't it?).

Mark

I should clarify, this is for indoor use only.

Thanks for the recomendation

you still want a moisture trap for spraying. hwen you compress air you also compress the moisture in it, causing it to condense in the tank. When you release the pressure as in spraying, it picks up the moisture and carries it with it out of the tank.

Sean, definitely go to Harbor Freight Tools. They have 2 compressors with a 3 gallon tank and one of them is always on sale / coupon for $39.99.
It isn't quiet, maybe the volume of a blow dryer, as it fills, but then you get to shoot in silence from the tank. My suggestion is to switch it off once the tank is full, the compressor kicking back on by itself will make you jump out of your skin!