$129 CDN sounds like a good price, though the regular Michael's price will be much more than it could be bought elsewhere because they expect you to buy it with a 40% off coupon. Can you still use a coupon at the clearance price?
Anyway, I don't have a 180-12, but I do have an 80-2, which seems to be the base model for Badger compressors. I don't know how many similarities between the two, or what components may be shared, but I can say that mine has been providing faithful service for about 15 years. Though it is designed to be connected directly to the airbrush, I have mine plumbed into a 7 gallon air pig. It will fill the air pig to about 38 psi, which is plenty for spraying. It is not exactly silent, but not near as noisy as most hardware store compressors.
Seems like a good deal. If you have the need, I'd say 'go for it'.