Finally fed up with looking for a proper petcock (after not really being able to figure out which size it was) I brought my primed tank into a bunch of stores (lowes, Ferguson's, multiple hardware stores) trying to figure what exact thread I had. Turns out with my measurements the tank fit 3 things, 3/4" 18tpi, 20mm 1.5mm, surprisingly enough 5/8" od compression cap (img1), or a (and most importantly!) 3/8 Fe Compression Coupling. These last 2 were perfect fits (WTF is NPT compression thread doing fitting 41 yr old japanese tanks!?!).
So now use a 3/8" Fe compression Coupling to 1/4" compression (img2) with an interior 1/4-in x 1/4-in Copper Slip Coupling Fitting (img3) inside your 1/4" line. I made the mistake of not using the interior copper fitting the first time and had some leakage. Also make sure to use some telfon tape for some extra assurance.
Next you'll need an inline switch (img4) and, if you care to use it, an inline filter (img 5). Before all of this I was using clear 1/4" ID vinyl tubing and it fit all my parts perfectly without hose fittings. Past the inline filter I used wind shield washer hose (7/32" or 5.6mm)(img
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, its essentially vacuum line and the closest I could find to original line without using hose clamps.
This
http://imgur.com/AgUSuZo picture is of the complete set up. I hope this helps anyone in need of a petcock alternative.