I agree with Paul,,Air ride is worth its weight in Gold. Beside being easier on your body and the truck itself. Without it it very well could cost you a load. I imagine any shipper knowing what they are doing will not load you with windsheilds,,fine wine glasses,,etc etc..It just may save you a claim against your truck.. When I first started doing this the carrier was paying extra for a load that required air ride but Im not seeing it anymore. But then again Im barely seeing any more money for airfreight loads either..
As far as your drain valve, the pull cables with have a slight tendency to not drain completely as a standard petcock valve. I cant remeber what the temps where on the 1st of Jan when you posted but if it was below freezing there is a chance any water in there froze when you pulled the cable .. Best to remove the drain valve every so often and let the tanks drain over night while parked on a level surface. You dont need to do this weekly. I try to do this once a year or so, I do it hoping it will allow any oil as you saw to drain out. Never had black oil drip out but admit I never collected it to exam it either.
Im thinking any oil in there should have been kinda creamy looking in color and not black..You sure it wasnt rusty water you saw?
Also as zorry said, service that air dryer..its one of the cheapest maintenance items on the truck.