AirLine Moisture - How to Remove?

I use very similar setup. Condense air thru a coil of 1/2 inch or larger copper or steel pipe submerged in a 5 gallon bucket, followed by good water trap filter unit. The more coil or length under water the better. 10 or more feet coil submerged. Use large diameter pipe to slow air flow allowing time to cool the air in the condenser. The key is getting the air to cool drastically causing moisture to condense out then trap it directly after. Even a simple few elbows forming a square of steel pipe 3/4 " so that you have a couple loops of steel pipe in the water then a trap will make major improvement in water removal. It sounds like the ice water in the bucket would multiply the condensing and water removal.

I used to have a coil of 3/8 pipe in a five gallon bucket that I would fill with water and ice, kind of on the order of a large "Kool Can", when the humidity got higher when I painted. I would put it at the far end of the shop from the compressor with a water filter immediatly following. It was amazing how much water would be extracted after the air was cooled.