Re: 1958 Evinrude big twin 35 oil leaks, coil problems
The most common reason for the compression relief valves leaking is that the actuators are adjusted too tightly. I can't remember, offhand, the recommended gap, but they shouldn't be tight. Try about 12 thousandths gap. That will do it. If the arm that goes on top of the flywheel is sticky or bent, that'll do it, too. It needs to be able to move freely.
They can also leak due to carbon deposits. That takes head removal. I've heard of having to lap them, as well, but have never seen that condition.
On your pressure tank, the button doesn't pressurize the tank. It's a little pump that pumps fuel to the carb. The tank pressurizes when the engine's running.