Not that particular model, but I've used a Wagner airless sprayer and it's not well suited for pinball...sprays *a lot* of paint, even at the lowest setting. Fine for a boat, fence, deck, etc., but overpowered for pinball.

The CFM specs for compressors is a *continuous* CFM, i.e. if you pull the trigger and hold it for minutes. You don't need the compressor to have the same CFM rating as the sprayer if you're doing short bursts and have a decent size tank for reserve. So instead of an expensive compressor, get a smaller one (1/2 hp to 1 hp) and a spare 5 or 10-gallon tank good to ~125 PSI. With the compressor, spare tank, gun, hose, and some extra fittings to connect it all together you'll be at about the same cost as the airless sprayer.

(Btw, for pinball projects (painting cabinets and clearcoating playfields), I use a 4-gallon pancake compressor that I picked up for ~$100. It's not ideal, I have to keep an eye on pressure, but I can generally paint 4 sides of a cabinet without needing to pause.)