One note I'd like to get a little feedback on:

For testing out the plug wires, I sprayed down each one with water/Windex along the shaft to the plug ends and had some really noticeable arching between the spark plug end and the cylinder wall. I thought all of that should be insulated preventing this. Am I correct in this assumption and in diagnosing a potential problem with the plug wires? (I used dielectric grease for everything as well)

Keep me posted...

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1995 E420
1998 SL500 Sport
2009 E350 Sport
1995 S500 Coupe
1992 500 SEL