I need to replace the leaky red valve pictured below. There are so many joints and parts that I am not sure of the design or reasons for all of the parts and joints and wanted to make sure of the right way to replace the valve. Is there a reason for two valves? What are all of the 1/4" fittings for? Also, I am thinking that the pressure reducer looks old and I think I should replace it at the same time. Thanks a lot,
The Genius
The Genius