I think the $200 limit is going to be tough to meet if you are looking for quality and very quiet.
For 300, you can get a good CO2 tank. Absolutely silent, and they work great, and very little to nothing that can go wrong with them. (I used one for years during design school, and passed it on to a friend who used it for many more years). http://www.coastairbrush.com/proddetail.asp?prod=CO2
My personal absolute recommendation for a compressor is the IWATA "Power Jet"...a beautiful piece of equipment and very quiet. shoot with mine at 3:00 am and it doesn't wake the wife or the animals in the next room)...it is a bit pricier tough.http://www.coastairbrush.com/proddetail.asp?prod=IS%2D900
IWATA also makes a "Power Jet Lite" which is less expensive ($335), they say it is also quiet, and has some of the features of the regular "Power Jet"...but no air tank.http://www.coastairbrush.com/proddetail.asp?prod=IS%2D925
Then there is the "Smart Jet" for $251 http://www.coastairbrush.com/proddetail.asp?prod=IS%2D850
Quality wise, you really can not go wrong with an IWATA compressor.
I would suggest you have a look at the compressor page on the Coast Airbrush Website http://www.coastairbrush.com/categories.asp?cat=13
They have number of mfrs they sell/represent.....and if you have any questions, just give them a call, they are extremely knowledgeable, and helpful. I buy all my AB needs from them, and have never had a problem. (I believe Randy and Ted...or maybe it was Doug have also bought from them.) They ship worldwide.