The risk of damage to air tools is important. Equally important is the internal rusting in the compressor's air tank if water is left in it. I recently bought a used 8hp gasoline speed-air compressor used. It wasn't until I got it home that I discovered a rust-through pin-hole in the tank. The previous owner did not properly drain the tank. In theory, I *could* weld the pin-hole, but then I would wonder about the integrity of the rest of the tank. My next smaller compressor has aluminum tanks, which have less of a risk of rust through. I still drain it as well.
Drill the hole out, tap it NPT, and put a brass plug screw up it. That said, the pinhole where it came through would be only the deepest rusted spot in a generally larger rusted, hence weaker, area. I would think there is not much you could do by way of welded repair that would be weaker than a place where water collected, and already corroded through. Cylinders mostly have a weld seam anyway. I would consider cutting a big hole, enough to inspect the nearby insides with a small stalk mirror. Then decide. Maybe a circular plug, welded in, covered by a reinforcing patch, welded all the way around. You can make it so that if it was ever going to fail, it would have to be somewhere else.
In my original post, it was about the practice of letting the air out, and that I said that I thought it was not beyond our wit to contrive some way to let the water out. Of course, let us look after the compressor by draining it. My first thought was just use two taps, with a tube between. Open one, let the water into it. Close it, and then open the outer tap, and lose the water.
I guess some like to blast the water out. OK then, but once the water is out, close it off, and keep the pressure. I am sure we can come up with more. Beyond that, one might use an electrical trick to inhibit the corrosion process.
Water vapour is in the original air when it gets compressed. There is a point if later it gets cold enough to dew, then it comes out, but this point is harder to reach if it is kept under pressure. When it is released in normal use, the air gets very cold from expansion, and is ending up at atmospheric. The water will come out, and if you don't want it there (say for spray painting), you have to use inline dessicators. Depending on the compressor type, you may have to remove oil as well.
Letting the air out all the way, inevitably drops the temperature in the tank, and the water gets below the point it can remain as a vapour, and collects in the tank. By all means, switch off when done. Yes, of course, drain the water. I was just trying to discover if there was some other good technical reason for letting go the compressed air. The energy it took to get it there was lots.
[EDIT : I do like it.
@llamatrails provides us with a solution from HF. Apparently "operates from any interrupted air signal". I am not sure what this means, but anyway
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https://www.harborfreight.com/automatic-compressor-drain-kit-68244.html
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