Do you know if its leaking around intake or the exhaust valves. If its exhaust, It sound like you are on the right track. You should be able to take off the valve cover and check to with valve may be sticking.
Been a while but I think it is like 8 bolts.
I would wheel it over by hand and see if one of the rockers on number three cylinder gets more play then the others.
Never know if it is not leaking by to bad. It may just need to be ran.
Simple if some one else can, why can't I
Jamie