air compressor conversion

I have a compressor that is noisy also. I built a box with sound deadening foam. But what about the heat build up? It seems as though I get more water in the tank because of that. So what to do about the heat and moisture, other than what we should do any way like draining the tank after every use. I tried to install dryers, several, to mediate that. One thing is I used a hose and ran it up into the rafters to give it time to cool off, then a trap at the bottom of both runs. Kinda works, but two more places I have to crack open to drain. So do you just place the box over the compressor pump and motor only?
Just looked at the link, I forgot to mention that another thing I did was to get those soft rubber pads/tiles that are used for standing, see link below. I placed the compressor on top of that and it seems to help cut the noise/vibration down. Oh, and my box is nowhere near as nice, but it does work pretty good.

http://www.menards.com/main/floorin...les-18-x-18-9-sq-ft-pkg/p-2265825-c-19252.htm