Help me choose a wall mounted air compressor regulator and desiccant setup!

I went down to HF and thought I could use their inexpensive wall mounted air regulator since the 10 year old one on my porter cable air compressor finally bit the big one. The HF POS was defective right out of the box. Its going back tomorrow. I guess going cheap was real stupid on my part. I am looking for nice setup for for about $200 to $300. Help!

I did some research on the web some years ago and found a simple way to remove so much water from the air lines that I've never even gotten one drop of moisture in my water trap.

As wisely mentioned above, run the beginning and end of your air line vertically with a ball valve near the bottom of them.

Here's where the important part is. Install 50 feet of galvanized water pipe sloping up at a gentle angle between the two vertical pipes. Mine slopes one direction for 1/2 the length and the other direction for the opposite end. My pipe zig-zags up the wall like 2 Z's stacked atop each other.

The pipes cool the hot compressed air allowing the moisture it's carrying to condense on the insides of the pipes and run back to the lower vertical pipes to be manually drained occasionally. The water trap is installed above the final vertical pipe.

A few pictures should help the above make better sense.

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