I say spray, even if it is with a cheaper gun.
When you begin spraying your projects, you will be amazed at how fast you can apply the finish.
When you later move up to a better gun, you will be amazed at how little sanding you have to do to smooth out the finish.
The first time I sprayed, it was with a small touch-up gun and I was immediately hooked, even though it was not a very good gun.
Everything Jstslamd said is spot-on and while I haven't tried Iwata's Top Guns, my most used go-to gun is an Iwata.
Joe--you will see your night-and-day difference in your setup, rather than between guns. You can get reasonably satisfactory results with a cheap gun with the proper setup or unacceptable results with even the best gun and a bad setup. You need to regulate the air at the gun, filter and dry the air and filter the liquid. The gun needs to be cleaned and maintained properly, as well. Don't let these things scare you. It's all an important part of getting the best performance out of your gun.
As Jstslamd said, you can get a good price for a used gun.
Or, get a cheap gun and sand more.
But by all means, spray. You'll be glad you did.
"Still, a man hears what he wants to hear and disregards the rest." --Paul Simon The Boxer