I can relate!! I just got done reworking the exact same model
Craftsman unit after it blew the outlet tube gasket. After looking over
the internals, you probably should get a signed liability waiver from
anybody who gets your "free" on the sidewalk unit!! It wasn't my unit,
I was just reworking it for a neighbor.

I'd suggest getting a standard twin cylinder cast iron pump with a
normal 120/240 volt 2 hp motor. Grainger has nice Speedair for $419. #
4b227 at www.grainger.com

Frank J Warner wrote:
Couple months ago I bought one of these:

http://tinyurl.com/yyqd

to replace my aging and no longer fully functional home-made air
compressor. (Link is to Sears, Craftsman 15 Gal 3HP air compressor.)

When I got it home and plugged it in, I couldn't believe my ears. The
thing sounds like a machine gun going off, continuously, until the tank
fills and the automatic shutoff cuts in, which seems like a half hour
but is probably closer to five minutes. (Try it in a newly sheetrocked
bedroom, with a texture hopper on the end of the hose, and nothing to
muffle the noise!)

My old compressor was almost whisper-quiet. I could use it any time of
day or night without waking the whole neighborhood, let alone members
of my household, since my shop is attached to my house, and I didn't
have to scream to make myself heard 10 feet away.

I'm ready to chuck this new one. Really. Just put a free sign on it and
wheel it out to the sidewalk. I'll eat the $200.

But I need ideas for a replacement that doesn't sound like a friggin'
50-Cal going off in my workshop.

Any help and recommendations would be appreciated. Do mfrs put dBs on
their specs anymore?

-Frank