Not Soldering: If you don't wish to cut and solder, I think your best method at this point, phnick, is to unscrew the existing hose bibb at the drop ear elbow and find out how much front-to-back play you have in the pipe that's connected to the elbow. This will tell you by ...
It's also possible that the main washer inside the hose bib is worn out. To replace the main washer, turn off the water at its source. Then open the spigot and let the water drain out. Unscrew the packing nut and pull the whole hose bib out of the wall. At one end you'll have ...