Of course, the problem I'm concerned about is that it takes much longer than it should to build up pressure, the hissing sound, and the leaking. I do not have my screw driver at school, so I can't open it up until 3 weeks from now. For now, I'm left speculating and asking you guys. I highly doubt anything could be broken since this is the first time it has ever been used.
My guess is that it has something to do with the individual pipes that make up the blasters internals. More specifically, they may have gotten loose. I do not have a picture of the internals of any of the 98s, but from experience I know that the different pipes are fitted together with rubber O-Rings. The best picture I have to explain what I mean is from my XP 105:

Do you see where the pipes are different colors and how they are sorta twist locked into place? I know that on the 98 XP line those are fitted together using rubber O-rings on the end of the pipe that fits inside the other pipe. Hopefully that has come loose and an O-ring hasn't rotted. I don't know why it would have though, because it wasn't used until now.
What do you think the problem might be?