Painting is pretty easy - just pick up the medium-sized compressor from Supercheap and one of their non-brand gravity-fed spray guns (paint pot on top, less wastage), and you'll be away for about $300-$400. Looking back, I can safely say that you never regret investing in equipment. I used the smallest type of compressor (24L tank, 245L/min (about 8 cu.ft/min) for many years, it was a Hindin Marquip (good-quality) that I picked up for $100 at a liquidation auction. The Chinese copies are almost that price brand-new but with a slightly inferior motor and pump I'm not sure that they actually deliver the same air volume as the genuine version. Therefore, if going Chinese, I think it's better to get the next size up.
After about a dozen painting jobs, I finally decided to try upgrading. I bought an NZ-assembled compressor (locally-made 100L tank, parallel twin pump from Italy, motor from Australia, 16cfm, $2800) but you really don't need this to get started, 8-10cfm and a 40L tank is OK and much more cost-effective. I find my big new compressor is most useful for air tools, like an air-powered D/A sander. My expensive new spraygun (about ten times the price of the Supercheap version) is actually really effective at very low air pressures (less overspray) so doesn't actually need a bigger compressor anyway. Meanwhile I have seen other people get great results with the Supercheap gravity-fed spraygun, hence the recommendation to start there.
Don't forget to fit a filter/regulator to the air hose, not too far from the spraygun - it removes oil (from the compressor) and condensed water (as the hot compressed air cools) - and there will be lots of water in the air (humidity) at this time of year.
You also need to become friendly with a proper trade-supply paint shop so you can get good-quality materials (probably another $200) - don't waste time with paints from Supercheap as they won't be able to do the topcoat colour-match anyway. The best paint shops just punch the three-digit paint colour code into a computer and have all the information they need. "Eye matches" shouldn't be necessary, and usually end in an argument! Don't let them fall into the trap of trying to match to faded/oxidised paint, as that will only case grief later if you polish the paint up (this applies particularly to Uno red, I had a car once that had new paint in three shades of red...)
You'll be amazed at the speed and coverage from a 2-pack or (better still) an epoxy primer, and you'll probably decide never to use a spraycan of primer again (they are useful for small touchups where you sand through by mistake).
Most of the work in a paint job goes into the preparation - wet-sanding with 400 grit paper - before the primer and again after the primer... you will need a succession of sandpaper grits before this for filler work etc. I usually start at about 100 grit, then 240, then 400.
Another thing you'll realise with the Uno is that you should almost never have to mask off anything with tape - just remove it instead (e.g. door handles, plastic strips under windows)... This helps to make it easy to get a neat and tidy result.
-Alex