If it's blowing air out the CAC intake side then my bet is some or all of your rockers are trashed and the engine is likely out of time. The somewhat good news is if the engine is out of time the rockers are designed to self destruct rather than destroying pistons and valves.
I'd strongly recommend no running of the engine until you can pull the valve cover and check the rockers.
If they are toast a full set of 16 rockers and lifters can be had for, IIRC, $500-850 depending on where you shop around. Some have had decent luck sourcing from across the pond. The install is a doable DIY project but you will need the timing tools including something to hold the cams in place while removing/reinstalling the cam bolts as the cam pins won't stand the torque.
Most recent post on the topic is
viewtopic.php?f=5&t=74149 but there are others with better pictures such as
viewtopic.php?f=5&t=62278