Thanks for all the ideas. Didn't have much time today to mess with it. I did sort of take Bob's advice....still had my hose whip for my oil pressure gauge hooked up so I put about 40 psi of air into the oil system.
Didn't see a whole lot of bubbling or hissing on the bottom end, but I can definitely hear it coming from up top somewhere.
RobgIN, you mention a seal on the tensioners. I have the old junk 4.6 out of our other explorer that I've been taking apart to get an idea how this one works. There were no seals under the tensioners. Just metal to metal. That motor was a ford factory rebuild. Should it have a gasket of some sort?
I think my next step is to pull a valve cover or 2 and see if i can find my "air leak" up there. Maybe I can see down far enough to get a peek at the tensioners.
If anyone has anything else, feel free to chime in.
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