Your SOHC4 will run quite happily on 3 cylinders and unless you new your bike really well you would have a hard job picking it, lack of power at speed would be a good indication.
As Scrapvalue said, sounds like you have a carb problem, the plug wont be wet if that cylinder is not getting gas, nor will it's colour change as there is nothing to coat it.
Drop the bowl on #3, my bet is it will be either dry or down below float level, could be something simple like a jammed float, I had this happen on my 650.
Also you could start with the old clear tube to the carb bowl drain trick and see exactly how much gas that carb is getting before you tear it apart.
Also check the plug lead, it sometimes helps to remove the plug boot and chop off 1/4 inch of the coil lead then thread the plug cap back on.