I don't know the Goldblatt myself, but as a texture sprayer compressor, it seems to be a reasonable unit, based on what I've read.
All compressors run hot. That's why the tube from the pump to the tank is normally made of metal.
That it won't build pressure is likely a different issue, and I'll refer you to the TROUBLESHOOTING page, where you will find a link to information about compressors that won't build pressure.