I sure appreciate the responses, folks. You guys are awesome!
Is the PMV some type of pressure relief type valve keeping some back pressure in the filter stack? How does it affect air quality?
I'm going to look at the compressor this afternoon. Looking at the photos I think I need to put a cord on it in order to run it, I'm not sure if that will be possible. Is it possible to inspect the valve and make a reasonable judgement as to its condition without running it? Are they expensive to replace?
Make sure you see the the machine run! You can get an idea if the PMV is working by seeing if pressure starts to build in the hose immediately or if there is a dely. The delay usually can be seen as the machine runs 2-3 minutes and the some pressure starts to build, followed by a quick jump to around 1800 psi (normal factory setting) and then builds gradually to the relief pressure.
Craig