Craftman Air Compressor problems, advice?

[AAA240SX]

I have:
Craftsman 30 gal. Air Compressor, 6 hp, Vertical Tank, Oil Free Pump 16731.

Recently it has not been working properly.

The problem that has got me stumped is that the air release valve (gold) on the bottom of the tank does not lot the air evacuate from the tank when I am finished working.

Does anyone have advice on repairing this myself?

Sears quoted $100 for repair (age has surpassed factory warranty). I might as well cough up another $100 and get a brand new one! Anyway, advice would be appreciated.

Thanks everyone in advance...

[yokotas13]

umm...can you manually open the valve>

[AAA240SX]

yea it can be turned by hand completely into the open/closed positions, but it does not allow air to release...

[s13silvia123]

i have the same problem with my air compressor i'm not having enough power to take off a nut that have been torque to 30-50 pounds.

[Gnnr]

Try calling craftsman directly and ask, its a shot. I'd reverse engineer the thing and take it a part little by little to see what was up.