Recently I had lost a tank of CO2 due to a bad connection (traced to 100% user error

). Because of this mistake, I started getting cautious and shutting off the valve just below the regulator. I noticed that when I did this, the low pressure guage would immediately start creeping up. This made me nervous that I had another CO2 leak, so I started looking. If I shut off the tank valve and leave everything else open, no leak, HP guage stays put. But if I close the tank and the main valve, LP guage start creeping up. So regulator MUST be leaking, right?
Am I missing something? Can it be fixed? Will the micromatic replacement parts fit? It's a "Taprite-Fasco" series 740 according to the sticker.
I think I might know why my kegs get foamier and harder to pour as I near the bottom. I just figured that was normal, but now I'm thinking they were getting slowly tortured with excess CO2!