Things you need to know.

Can't imagine having to fish for a valve using air pressure and air pressure is a lot easier than fishing in a piece of rope. You have to remember that with 100 psi in the cyclinder on a 2" diameter valve is over 300lbs of force and with 150psi it's almost 500 lbs, that is a lot more than what the valve spring applies when the valve is on the seat.

This assumes that the valve and seat are in good condition, and that the engine doesn't have any more than the normal leakdown issues. If you are changing the stem seals, the chances are neither are true.

Also, for those without an air compressor, it beats the hell out of using a piece of vacuum line and doing it by mouth.