Ok, the radiator cap was definitely part or cause of the problem. The bottom half the cap is completely broken off:

The spring was laying inside the radiator. Which means that the other parts are circulating inside my engine and could wreak havoc on my water pump and such.
After installing a new cap, the lower hose is pressurized now where as before it didn't seem like it. But the lower radiator hose is still cool to the touch.
So now I'm thinking that I must have a bad water pump?
I've never seen one for this model, but is it possible that the fan could be free-wheeling and not moving any water?
And like I said, the fans never seem to kick on. I'll check those next.
It's getting close to changing the timing belt again anyway, so I'm thinking this might be next weekend's project. While I'm at it, just change out the water pump and the oil seals as I have a small oil leak. Perhaps take the radiator off and have it flushed at a local shop.
Thanks everyone here for your input. It's greatly appreciated.