Here is the fly in the ointment, especially when you live in a humid climate lke here in W WA. The water in the bottom of the tank is what is in the air you bring into the compressor. That air is heated from compression which actually seems to be drier (psycrometrics), still the same moisture but humidity goes down. The air cools in the tank due to the radiating surface of the tank, the water drops out and collects in the bottom of the tank. When a tank fails (leaks) it is 99% rusting out from the inside. Remember rust is oxidation. You keep adding more oxygen as the compressor runs. Even a little bit left in starts the rust process, then the rust collects and holds moisture against the steel. A quick blow is not enough, leave the valve open till you get no more drip or vapor. Do this on a cold day and it will really sink in as you will see the vapor.
So blow down often, do not let the water accumulate. I know a guy who said Ah, I do not need to do that. I went to his tank (50 GL) opened the drain, it was plugged. Blew off all the air, removed the drain valve and, got a gallon of rusty water plus a lot of rust. Told him he is a failure waiting to happen. He is now a believer. The pressure on the tank has no relevancy to the moisture, it is the cfm of thru-put. The more you use it the more water you get. The guy piping from the bottom is only assuring the piping system also stays wet inside. Threaded pipe rusts out twice as fast as you are cutting away half the wall thickness to make the thread. If you have a large system like the painter and have an air dryer, put the drier between the compressor and the tank; that is the way large industrial systems are piped. Keeps the water out of the tank and downstream piping. Remember also not all the moisture drops out in the tank, again the pyscrometrics which is way more technical than appropriate for this forum.
Ron