With the 2 large cans (they sell smaller cans in the $6.00 - $7.00 range) of Badger "Propel" propellant that I've bought, I've managed to do my chest armor, shoulder bells, EE-3 blaster (TWICE), my Westar, a Kamino sabredart, and several other things. I'm just now hitting the bottom of the 2nd can. I'll probably buy a small compressor soon, since I still have plans to use acrylic paint and my airbrush to weather my jumpsuit, cape, etc.
As far as the pressure, the airbrush that I bought (as well as the $3.00 I listed above) both have a regulator on the cap that screws onto the air can/compressor. You regulate the airflow by adjusting a thumb screw. The airbrush spray pattern is also adjustable (from hairline to 3/4"). Playing around with the airflow and the spray pattern will get you a wide range of effects.
As far as the air tank goes, I know what you're talking about. I think WalMart sells them in the auto section. There are some on eBay.
This one has a bad gauge, but you can't beat the price. Just be careful filling it up!
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2047372627
Here's one with a working gauge, for a little more than a few large cans of air...
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2047473198
If you look around, you can get a small compressor for about the same price AND you never have to refill it!
This one is JUST a compressor, and has no tank to hold excess air in. Those cost a little bit more...
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=1760488906
If you search for one, you can include "nail" in your search to return a list of compressors that are quieter than regular ones. Nail salons use airbrushes to paint nails sometimes, and they tend to like the quieter compressors so the person doing the nails can talk to their client without shouting over the noise of a loud compressor.
Hope this is useful to someone!