Yes I to have a Sears 3.5 hp oilless compressor. I'm not sure if all the oilless compressors are made as it is anymore or not. What happens to mine is that the graphite ring wears in on the piston. As it wears away the compressor takes longer and longer to pump up till it gets worn to where it can not develope enough compression to pump up. I do have an old Campbell-Haustfelt compressor (1985) that is still going strong. I had to replace the reed valves (actually wore them out), while it was apart I looked to see how the piston was on it. On it they made the ring on the piston so that the ends over lapped, so has the ring wears it the overlap moves out and keeps it sealed. I will say this compressor has alot of hours on it and hopefully it will have a few more years to go. Wish I could find another like it.
So my recommendation to anyone asking is to go with an oil type pump anymore. Actually one time while at Sears a salesman was trying to sell a woman an oilless compressor. I told her they were no good and if she wanted a longer lasting compressor she'd be better off looking at the oil type pumps. Salesman probably didn't appreciate this butr I didn't want her to end up flushing 269 down the drain like I did!! LOL