Originally Posted by oldred
You might want to consider this- clean it up and paint it (riveted tank and all), replace any lines/fittings that may be in bad shape then run air line behind the old tank into a hidden new tank then take your air from the new tank leaving the old one intact but UNPRESSURIZED. You would have a real conversation piece for sure!
That would be really neat... set the tank on its end so the concave side is down, out of sight.
As for what I said earlier, I would replace the tank, and make sure the motor is oiled and the compressor is in good shape (remove rust, check it for cracks, change oil) before putting it into service. My air compressor is based off an old refrigeration compressor and ancient motor, but the tank is newer for safety sake.