When a normal run of the mill engine head gasket goes pop, does the oil water mix and the car loose compression and eventually dies, where as a V6 engine as found in the mondeos/cougars etc, they just tick and still run regardless?

Some of you may or not have been following my threads but basically my plastic impellor broke up on my waterpump on saturday, i changed the pump and ever since, its got one big nasty air lock that i cannot for life of me shift, i have changed the stat twice, ive tried every and each way of bleeding it, ive flushed the system through, but nope, engine off it takes the water, swallows it up, start it up, it heats up, and blows it all back out the header tank, violently.

Was told to remove the stat completely, that made things worse, it ran twice as hot, fan was constantly on and boiled over ten times more violently and when i was going along i could hear the pressure in the system popping and crackling..

Then it occured, the tick of death, sounds like someone flicking a piece of metal off something hard, ive already got a knackered front bank exhaust manifold gasket and now ive got this noise...

Going to put the stat back in tommorow i think, may try once more at flushing it ( hose in the header and bottom rad hose off ) but i think shes goosed.. how long will she last for ?