I have the old 21 gallon 2.5 hp Harbor Freight (Central Pneumatic). I've had it at least 10 years without issue. Flow rate: 5.8 CFM @ 40 PSI, 4.7 CFM @ 90 PSI
The flow specs on the one you linked are a little better. Should put you in range of the entry level HVLP gun if you ever want to spray. Mine will spray raptor liner just fine, but I'd be concerned with paint. Mine cannot keep up with a 3" cut off tool.
EDIT: I got a retractable reel a couple years back and it's been great. Mine is the Flexzilla, I have that wall mounted and shoved the compressor back in an alcove in the garage.