That sounds very much like a VERY DRY compensator. I think the grease option would probably quiet it down a lot, but that really doesn't correct the fact that it will eventually wear out and still need replacing.
It is quite a conundrum for those with the grease option and still have "some" warranty left. If they keep it pumped with grease, it will last a bit longer and warranty may run out. If you don't grease it regularly, it will have to be replaced, but again with the same comp and not the Centa unit.
