So sometimes after a start on my initial acceleration I hear what sounds like an exhaust leak for a second or 2 and then it ceases for the rest of the day. It appears to happen after a cold start but does occasionally happen on a warm/hot start but giving a little extra gas after its happened doesn't seem to recreate the problem.

I have noticed some water dripping from the exhaust joint beneath the front passenger floor boards. It is an '01 and I haven't check to see if its the 0331 head but I know positively that since I've owned it the temp has never gone over 210ish.

 

Tracking a leak can only be found by inspection, but not sure if you know this but if you have a "slight" leak.. while the engine warms up the parts (metal) contracts and the "hissing" sound will subside. That's why you only hear it on cold start-ups. Good luck~

 

I figured it was a "slight" leak for the exact same reason you stated. It "sounds" like its coming from the right (passenger) side of the vehicle. It hasn't thrown any codes so I'll see about wheeling it over to a shop for an inspection.