Jeff,
for 500 he will replace the OPV with a new 330Bar one. About 5 minutes of work. You will still be using a kinked fill hose that will soon fail., and a filter housing that is past it's prime.
You can save the 500 by doing what I posted in my first post and then spend some of the saved 500 on a new fillhose and maybe getting the pressure vessel of your filter magnafluxed, if as expected the magnaflux does not reveal any cracks you are good to go.
If you change to synthetic oil, remember that doing so will free up many years of varnish and other gunk from the inside of your compressor. If not done properly, doing so will break your compressor.
Done right, it's the best thing you can do for it.
Procedure, drain old oil out overnight.
Fill with new synthetic compressor oil. Run the compressor for max 4-5 hours and drain the synthetic out while it is still hot. Refill with new synthetic oil after it is no longer dripping. Now you are at a point where you can use the compressor for 15-20 hours with the new oil, and a new filter cartridge. This oil is still working cleaning accumilated varnish/gunk out of your compressor so it should be changed no later than 20 hours of use.
After the 3rd oil change you are now at a point where the compressor is almost happy with the new oil and can go a hundred hours before the next oil change. Finally after the 4th oil change the compressor is used to the new synthetic oil and you can now change oil every 2 years or 500 hours (some manuals say 1000 hours).
Compressors, although lots of people will tell you different, ARE NOT ROCKET SCIENCE, if you can fix a lawn mower, you won't have problems replacing parts on a compressor, although using the tools to remove varnished in valves is not easy and may involve days of brake cleaner, the right bauer valve tool, a big vise with aluminum padded jaws and a bit of cursing. Many Bauer tecs just replace the cylinder head since at 50 an hour for their time, its cheaper than spending several hours trying to replace a well stuck valve.
This is a link to the manual for your your compressor back when it was made:
https://www.bauer-kompressoren.de/f...-part-list/v-p-u-10/1986_10_01_tvpu10-1_2.pdf
Michael