Airslave,
From pictures, everything looks new, so possible you might have a "lemon." Bio has said many times that Chinese quality control is not the best, of his two compressors, one was good, the other, not. I agree with Scotty, a soapy water leak test, with compressor running or shut down "dead-headed" is the best way to find an external leak. You said you can hear the leak, so that seems to indicate external. I'd soak the thing, including filters, with a spray bottle of soapy water until I found the leak. Using the dead-head will eliminate any possible gun or fill probe leaks, so I'd use it. The two aluminum blocks have vent holes on the bottom for air to escape from pressure release screws, so spray under there, too. Keep us posted, WM