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Dewalt d55167 air compressor

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Hi all. I'm very new to compressors and was looking around for a small pancake model. I ended up seeing a used dewalt in my area. He was asking 200$. It looked OK. Wheels a little wobbly. Manufacturer date of 2011. It charged up to 210 psi and shut off. I did notice a Tiny leak from the drain valve. Also leaked small amount from the upper section of the rubber hose. Lastly the regulator knob was cracked so I pulled it off and used a wrench to make sure the reg spun freely which it did. It held pressure in the tank for the 10 minutes I was there but the reg pressure did slowly come down even tho no hose was attached. I figured this was due to the slow leak I observed. I offered 100$ and we agreed on 120. Figured the parts were minor fix. Did I just burn a 120$?? Should I break it down and check the piston, gaskets, check valves and such or is that over kill? 

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