Here's a list of what it's cost me thus far:
compressor: Sears 6.5hp/60 gal- $459
air line plumbing: $180
Sharpe filter/regulator:$85
hose & fittings (hvlp guns need hi-flow fittings): $80
Devilbiss Finishline 3 gun & regulator: $160
Various sanding blocks: approx $60
Body tools (hammers, dollys, etc): $95
HobbyAir breathing system: $572 (because my lungs are not yet replaceable)
House of Kolor KP 2 CF primer: 6 quarts total @ $27/quart
sandpaper (various grits): $75
filler: (approx) $45
Note that I did not include the stripper needed to strip the old paint (about $80) paint or clear, because I haven't bought any yet, since I'm still blocking the car, but I'm figuring about $600 for both. I can tell you this, when you get into doing the work, it seems like there is no such thing as a $20 trip to the paint store. Everytime I need paper, fillers, spreaders, primer or whatever, it seems to end up costing $50 for odds and ends stuff. I stand by my opinion that there is no way you could start with nothing and paint your car for $1200.