Sounds like the catalytic converter is clogged, try disconnecting the exhaust from in front of the cat and try it. The engine can't push the exhaust past the catalytic converter, the hissing is the exhaust pushing past the exhaust gasket. Let me know if it works.
Eddie
i suggest try running a can of Seafoam through the vacuum line that goes to the power brake booster. use the whole can and if it stalls the car out loading it in there don't panic that's normal when and if it does put the power brake booster vacuum line back in the booster where it goes and put the remaining seafoam if any in the gas tank. the car will smoke heavily until everything is blown out of the car but pay close attention while it's doing so to make sure there is not smoke coming out of anything in the engine compartment if there is then something is leaking if nothing else is keep lightly reving the engine until the smoke stops and you should notice a HUGE difference in the way the car runs
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SOUND LIKE LOW COMPRESSION.EXCESSIVE CARBON INSIDE ENGINE CAUSE ENGINE TO DIESELING KEEP RUNNING MAKE A RATTLING NOISE WHEN YOU TURN OFF IGNITION.
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