Don't think its the Head Gasket at all! My 1996 Mustang 4.6 v-8 had similar problem. It's a bad O-Ring at the Oil Filter/water coolant adapter. This is behind the Oil Filter base, an adapter plate. Got the repair kit at Advance Auto Parts.
Also water system is under pressure. If bad Head Gasket, water would go into oil. If bad Head Gasket: water leaking into pistons. Turns into steam, out the tail pipe. Take out the Spark Plugs and crank engine (water would pump out a Hole on the particular piston). Do a Compression Check on all cylinders.
On a Intake Manifold Gasket leak check by spraying Carburetor or Brake Kleen around edges of manifold.
Also water system is under pressure. If bad Head Gasket, water would go into oil. If bad Head Gasket: water leaking into pistons. Turns into steam, out the tail pipe. Take out the Spark Plugs and crank engine (water would pump out a Hole on the particular piston). Do a Compression Check on all cylinders.
On a Intake Manifold Gasket leak check by spraying Carburetor or Brake Kleen around edges of manifold.