No, there's no grease on the plugs or inside the caps at this moment.
Are you sure about that? The use of grease is a smoking gun for your quite unusual problem. I was wondering about it before, but since the problem then only involved the one cylinder I dismissed it. Now the problem has moved to two other cylinders, and the common denominator is the grease. 
New plugs, new coils, new cords, new caps. No grease was applied yet and now, never will be.
Were the old coils and caps also from 4Into1?
So originally....
Caps, HT cords, and coils were OEM. Then I noticed the arcing on #4.
Cap #4 was broken and the rubber boots on either side of the #1 caps were cracking so I replaced caps #1 and #4 with resistor caps from Vintage750. Cap #4 was still arcing.
Now, I replaced all caps, HT cords, coils, and spark plugs (No grease!). Based off the condition of the electrode on the old spark plugs, the engine has been operating fine. Cap #4 looks fine but now #2 and #3 is arcing. I measured the Ohms of the caps and spark plugs and the range was between 4.7K Ohms to 5.3K Ohms.
When I have a chance, I'm going to take it all apart again, re-measure all my Ohms and then report back.
I'm curious. This dielectric grease... (I don't even know the Dutch word for it). I have never heard of any mechanic here using it and personally I never needed it. What good is it and what are the no-no's?
The point of the dielectric grease is to help keep water away from the spark plug. It's also supposed to make it easier to remove the cap from the spark plug. You're not supposed to put grease onto the spark plug terminal as the grease also acts as an insulator and can cause another set of issues. You're only supposed to apply a thin layer of grease to the cap boot so that it applies it to the ceramic section when you slot it onto the spark plug.