Definitely a new tank and definitely a new regulator. For a couple bucks on both, why risk it?
Our permanent tank is in great shape. We did replace the regulator with a new one because the original was leaking a bit and I plan on cleaning and painting the tank this summer to make it look a bit better, but there are no pits or rusty areas.
The propane place is 3 miles away and they inspect and fill the tank for us. There was a gas station 2 miles away that would fill the tank for slightly less than the propane place, but they moved to 6 miles away and lost their jobber status so their price went higher than the propane place.
