I appreciate the help I have gotten so far. I had a Trane specailist come out today. He checked reserving valve and capacitor and came to the conclusion that the compressor is bad. Which is good (well except of the news of course). However when my wife asked him why it had gone bad in 7 years he said "who knows they sometimes just go bad for no reason." Maybe I have been hanging around here too much but I recall a quote from here that compressors "don't die they are killed." The tech said to replace the compressor but I am a little concerned to throw good money after bad if the next one will have such a short life.
I am in the mid-atlantic region, Richmond, VA, and I think a compressor should last more than 7 years here unless I am unlucky.
Should I just replace it or get another opinion?