Oh come on! Everybody knows it's the Hellmouth under the house, not the spiders, you should worry about.
Hmmm... haven't heard from @honkicracker in a while. I'm guessing he twisted a little too hard on that spigot. That's what he gets for taking plumbing advice from a dog.
Hopefully he did such a good job that he got his penis played with and has been taking the obligatory nap afterwards.
Well I decided against crawling under the house. However I made a hole under the spigot in the wood so I could get to it. Replaced the spigot entirely and it's not leaking. Took out the wet insolation because even though the shut off valve on the street was closed. It still allowed a good bit of water to drain. I'll replace the wet insolation, and fix the hole this weekend. I want to make sure it's not leaking. Plus with a bit of air getting in there it should dry anything out I missed. Well in theory... I also plan on getting one of those electrical wires that you wrap around your pipe. They turn on if it drops under freezing. I don't ever want to do this again so the more preventative maintenance I do the better. Thank you for the advice @SlyPokerDog and whomever else gave advice.
Glad to hear it's fixed and the fix didn't lead to other problems, lol. But I'm sure the spiders are disappointed you didn't come and visit them.