It sounds like your compressor is a bit worn out, or just undersized. If you've taken care of the leaking fitting, there's nothing to say that you couldn't replace just the compressor itself, along with the drive belt/pulley system (which possibly needs adjustment) and keep the tank. You didn't say how many horsepower the motor is rated for. If it's 5 HP, you'd be fine replacing the pump.
The critical thing is how many CFM the pump will put out at your desired pressure. The tank is really there to reduce the number of motor starts, and allow the pump to "catch up" with the air demand.
You can get an estimate of your current pump CFM by measuring the time it takes for the pump to raise the pressure in the tank to the rating pressure from a lower pressure. Your tank is 60 gallons which is about 8 cubic feet. So for example, if your compressor runs for one minute to raise the pressure from 80 psi to 90 psi, then it's approximate capacity is 8 CFM at ~85 psi.
I have a small sandblast gun (haven't used it yet) that the instructions say requires an air volume of 11 CFM. If you hit that, you'll be good.
Last edited by klhansen; 09/06/2019 5:48 PM.