I am a newb, I have spent the last half hour looking for this specific answer. Most of what I saw had to do with animation or rotation of an object. I want this selected part of the spout to rotate/bend at the 3d cursor along the x axis. I tried to "space bar" - "set origin to 3d cursor".. but I get an error that it cannot be done in edit mode. So, I set it in object mode but when I go to edit mode it has changed back to center.