I've own a Kobalt F217HKL compressor for less than three years using it about once a week to put air in my tires. During this time the regulator failed twice. The first time the regulator was covered under warranty. The second time I was told that the three year warranty applied only to the tank and the regulator was not covered.
Due to its open crankcase design this compressor is loud when running. The materials and design of the regulator were a disappointment. I plan to jury rig a better built/designed regulator rather then replace it with an OEM part that I know will shortly fail.