Thanks for the advice so far. I've been away for a few days and just noticed the feed back. Thanks for the compliments. I was gonna do the same thing with an old refrigerator, but couldnt find one on craigslist. I needed to get on with it anyway.

Is there a spray on rubber coating that might work for keeping the inner surface from being eaten up?

This compressor has two removable nuts on the side. They are about 1" dia threaded holes into the tank. I was told that this was for adding more tanks for more capacity, but can anyone identify what brand this thing is? I cant find any indicators of who made it, or if i could find a tank for it some day.

Slightly OT, but would propane tanks converted to compressor tanks only be good for about 90psi at 12gauge?

I may try the staggered approach like matt says too.