1 No its not, and it could get worse, stranding you and ned.
2. Like K said, have a listen for air leaks, could be anywhere from the compressor to brakes. However I'd start at the air tanks, there is a pressure relief valve and if this is not sealing properly (age, debris, corrosion) then you will always be fighting the leak.
Need sorting, I can go back to mine after days and still 8 bar.
Tim, March 2010