This is the right way to go when replacing the air tank release valve. I rusted one of the screw types and snapped flush, necessitating drilling on my 33 gallon vertical handcraft compressor. This should fix the problem for a while. It sticks out a little more than a drain valve screw, but it's worth every penny. It's 1/4-16 NPT, which is a pretty standard size for air tank drain valves, and the pre-applied threadlock wasn't too thick. which was a nice change.
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