Hey Fordgirl,here's a question. When you put the air to the cylinder and you said you heard the hissing from down below. Where was the down below? I'd try the air again and listen at the tailpipe and also from the dipstick tube. Pull the oil dipstick out and listen. Tailpipe,exhaust valve issue,dipstick,holey piston Batman. I'm still leaning towards the valve spring being the issue. That being said,if it's a broken spring,you should be able to move the spring and valve freely. Not very much mind you,but if there's no spring tension,then it could move. You did say it wouldn't move at all. That leads me to think bent valve. If it comes to that and you end up pulling the head,then you'll need to hold timing chains in place etc etc. I'd be inclined at that point to replace chains,guides and tensioners. That's where I was on my 5.4l 3 valve until i pulled a camshaft bearing and found a pooched cam. New used engine for me,but i'm doing all of the above plus a new oil pump. My two cents again. Good luck.