I found a bad regulator after much frustration. There was a small hole in the back, why I don't know that I got bubbles out of while spraying soapy water on the reg. After losing a couple tanks of CO2 I took the entire setup outside and started spraying everything. Then out the back comes bubbles.
I could not find a rebuild kit for that model TapRite so I just ordered a new regulator. They sure look cheaply made compared to the old ones.
BTW the high pressure gauge that shows how much is left will not read correctly (low) if it is inside the fridge.