I would personally steer away from any Wagner products. There ok for the average weekend warrior but you probably will not get the best overall finish. Just get a gravity feed gun and use air compressor. Make sure you have a good water separator on the gun inlet and you will have good results. Just to give you an idea, I payed over $1500 for my first graco hvlp system for custom jobs and it was ok at best..
I know im going to get bashed for this, but ive seen very good results from the harbor freight guns.
If you catch them at the right time on sale they go for $9.99.
And a 30gallon $300 compressor will work fine.
Use good oil/water filters, play with the gun and get it dialed in and practice first.
Good prep work is a BIG part of the final result.
Good luck, and dont be afraid to ask questions
Your 100% right Cut about the cheapos. Most people will never use the gun again or anytime soon and do not know how to clean properly. The majority of your professional painters use Binks or equivalent but if your only using for personal use then the cheap ones will work fine given the proper filters are used.