Here's an inline filter that has a Presta valve drain. I've only used the inline filters on my small portable when using an airbrush to paint models. They work just fine and the air gets pretty damp here by the Bay. I don't think that compressor could keep up with even my HVLP detail spraygun.

1/4" INLINE MINI AIR FILTER

I also have a large compressor mounted in a cabinet outside the garage with a wall mounted filter/air regulator/lubricator and separate hoses for tool lubrication and spraying. Having the wall mounted filter means that you have to drag hose to wherever you need air, so it's nice to also have a portable.

I've never tried a HF or other inexpensive spraygun, but I'm curious. Is it really necessary to spend $200 for a name brand spraygun for small projects?