Same attitude as mikeweyman about the impact, I actually felt guilty handing over a cheapo CH impact to a buddy (he didn't know any better and was smiling at his first air tool).
I started off with the cheap air tools, and have learned my lesson. I am not a mechanic, yet work on my sleds, bikes and truck, and I have to say...don't waste that $100 on the cheap things, as you will have to buy others later on when you actually have to do some work with them (esp. the impact and air hammer/chisel)
I have had good luck with the Ingersol Rand tools, and Auto Pro tools from NAPA...and think I have given away all my old cheap air tools as they just wouldn't do the job I thought they were for.