It's been awhile since I've used my chemistry degree, but a paper from 1978 is dated.
Please let me know the chemical reaction to take Iron Oxide to CO.
It takes a lot of energy to break CO2 to CO, and I don't see anything in a rust lined tank producing that much CO. C02 would be the only available Carbon in an air filled tank, with the exception of trace C0. I think it is instrument error or there was contamination from compressor air already present. . It reminds me of the paper on Cold Fusion.
Dated or not - there hasn't been any such research since then, so it's still best data available.
I agree that 70-80 ppm sounds high for corrosion-related CO. The studies from 1978 showed that corrosion could increase CO in the range of 15 ppm. That's quite different from 70 ppm.
My vote is that the compressor burped some CO in conjunction with a corroded tank.