Fixing the 5hp Honda powered Craftsman air compressor

I bought this 5hp, 150PSI, 20 gallon Craftsman Professional compressor on Friday (2/13) from a concrete construction company for $26. One guy said it wouldn't start at all, and two other guys said it would start, fill the tank, and die. We had always wanted to get one of these so we can use air tools up in the woods where the tractors are. I figured if the engine was shot, I had the exact same Honda GC160 laying on a shelf doing nothing I could pull off all the parts I might need. Take a look and see what happens...

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