I agree with Joe and NFN. If you buy cheap stuff (and I do buy cheap tools) expect them to be disposable. I'm not sure this should apply to Sears, but certainly Habor Freight is cheap crap. When they fail I throw them away. If I really want a good tool I will pay a premium and get something good (Snap-On for instance). You can't have it both ways.
If you want a good compressor get a used one like this:
http://toronto.en.craigslist.ca/mss/tls/696076607.html
which can be rebuilt and repaired as required.