Air Compressor Regulator - Can it be Fixed?

[DeesZ]

If you have any experience with compressor regulators I'm seeking your advice. Mine is going south on me slowly but surely - it is starting to stick open, not allowing me to regulate the pressure down once I have it at a higher output (without a bit of fritzing around with it a bit). My question is "Can it be fixed or should I simply replace it?" I've attached a picture so you will have an idea what I'm talking about. (I didn't buy it new and assume it's a Harbor Freight quality unit.)

If it can be fixed, any advice on doing so?

If replacement is in order, any advice on an economical unit?

(The compressor builds up a head of about 175 lbs.)

Your suggestions and or advice will be greatly appreciated.

Thanks!!

Picture attached:

[JimmyZ]

This is a good drier and it has a regulator to boot. ($30)

http://www.harborfreight.com/cpi/ctaf/displayitem.taf?Itemnumber=1118

You can always take the old one apart and check for dirt in the passages. The drier is soooo much better.