I am older than you are but 4 years ago my PSA started jumping like yours and my free PSA was less than 10. I had 5 biopsies (all negative) but my urologist finally sent me to UCSF in San Francisco where a worlds expert in ultrasounnd (Dr. Shinohara) found 2 out of 10 biopsy specimens to have CA. My gleason was 4+3 and because of my PSA velocity I was advised to have treatment (the usual 3 choices--Prostatectomy, Brachy or Radiation). At 73 I am in excellent health and so I chose robotic prostatectomy as I wanted not to have to worry in the future. I had it done in December 2011 at UCSF by Dr. Maxwell Meng a true gentleman as well as an expert with the DaVinci Robot. My biopsy reults after surgery indicated a Gleason of 4+5 (not good) but negative margins and negative lymph nodes. After two months I am starting to feel pretty good with the usual side effects that seem to get better each day. I am trying to be patient!
With your PSA velocity and low free PSA the gold standard is biopsy. All I can tell you is that if you have it they will eventually find it and treat it. From what I have read, at your age, the treatment depending on your Gleason and PSA at CA DX the treatment now days in the hands of an expert is probably surgery. UCSF also has about 900 men on "active management" with CA but low Gleasons
Hang in there--if you have it its probably contained and definately treatable.