[jcus]

I'll take some pics of my compressor.   Series 60 is the key, not necessarily the year I would think.  

No coolant in wet tank is puzzling.  Cause if coolant is in the intake hose, then it must make its way into the compressor cylinder, and then to the wet tank, I would think.  Any liquid in the compressor is bad news because a little will wash the cylinder walls and a lot will cause the compressor to go solid and bend the rod at best. So this in my mind is a tricky diagnosis, because coolant in the compressor could result in extremely high pressures leading to blown gaskets or seals. A tear down would possibly show the blown components but you don't know if the failed seal allowed coolant in or coolant in the compression stroke caused the failed component.

I would cap the coolant lines and run it for a few miles. Then take off the intake line and see if any coolant is in the intake line.

Checked around and appears all Series 60 air compressors are water cooled and a little different that some other makes because the  fuel pump is driven off of it. Will take Richards advice and return new comp for credit and attempt to find problem with, and rebuild my original one.
Jim