I keep it simple, and so far, it works great.
Why even recirculate the old, spent, hot water, back into the compressor?
Then things like copper tubing, radiator, additional fans, anti-freeze, and additives to keep it cool are not necessary.
I have fresh water from faucet, going into a 5 gallon bucket that is fed by a constant, slow supply of fresh, cold water.
Hot water exiting the compressor goes into a seperate bucket and I do not recirculate the hot water (only a small amount).
By not recirculating all of the spent hot water, the incoming water supply is always nice and warm.
I prefer that the incoming water is WARM...(NOT TOO COLD and NOT TOO HOT) ......Just warm!
So I only recirculate a small amount of hot water, ... just enough to maintain WARM incoming water.
On a busy day, if I top off several guns, spare bottles, and my large, 90CF tank, I probably consume 7 gallons of "waste" water.
The hot "waste" water, can then be reused for washing the deck/basement floor, wash pet bedding, or once cooled off, for outdoor plants, ,etc.