I've had one of those trays for a few years.. got it on sale at my local Canadian Tire (Cdn version of Sears) for $5cdn (about $3usd)
Anyways, over this weekend I ended up sandblasting and painting black the ratchet head mechanism, Clamp nut and air inlet nut. I also sandblasted the handle and polished it on my buffing wheel. I'll post pics when im done
It should somewhat look good as new.
On a side note, I was at my local Princess Auto (Harbour Freight equiv) and I was told to do the following after putting my ratchet together (as its re-greased, ect). Is the following true or do they not know what they are talking about?
"All Air Tools are packed in grease to prevent corrosion of internal parts during shipping and storage. We recommend cleaning away grease to obtain optimum performance from your new air tool. SprayWD-40 or similar chemical into air inlet and run tool under no load until exhaust appears clear."