Water Hammer Problem?

Hi All,
I've got a 60-year old house with a water hammer problem. The hammer is particularly noticeable with the cold water line and the two toilets (might be with the dishwasher hot water line too, but I haven't noticed this). The water pressure also seems high. I realize the long-term solution is to replace the pressure regulator, but due to its location this will be a nasty several-day project (previous owners finished the basement and drywalled over it).
I'm wondering if I could address it in the meanwhile with some water hammer arresters? Can I just sweat them into some exposed copper lines I have? How many do I need to put in? Does one hot and one cold do it, or do I need to scatter them around? The house is plumbed with copper, but the way it's been done it's a hassle to get at the toilet plumbing.
Some people have also suggested an expansion tank. Is that a solution? How do they work?
Finally, I could also probably put in a couple of 5-foot air columns in the utility room. I realize they gradually fill with water, but maybe if I put a stop-cock on the bottom I could drain them from time to time?
Thanks in advance - Any advice is appreciated.
Cheers, Geoff Glave Vancouver, Canada
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snipped-for-privacy@softtracks.com wrote:

If the present regulator (PRV) is stuck open, consider leaving it in place and simply adding a second one where it is accessible.
You do need an expansion tank (thermal expansion) after the PRV to control overpressure due to water expansion in the water heater (assumes tank-type).
The exp tank *may* help. Try it. Otherwise, your 5 foot columns are a good idea.
Jim
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