krewat,
Thanks for the suggestions. This has been an intermittent problem with the truck for a few years now. I've had it since 2004 and have replaced 3 COPS. None twice. It looks like there are only three OEM Motorcraft ones left, leading me to believe the prior owner had one go also.
It made it through a day of slogging it out in the rain without a hitch. Though I did make it a point to avoid puddles whenever possible. I didn't notice any cracks in the COPs when I had them out and the boots looked to be in good condition. I cleaned them up with a tacky rag and really scrutinized, so I would have noticed a crack. Then I put a ring of silicon grease around each boot near the tops. Blew the plug holes out with an air gun before reinserting the COPs. I'm going to get back in there tomorrow night and check out the seals on the connectors. Incidentally, I've noticed that a lot of the loom is loose and poorly taped. (I was squeezing water out of some of it just now). I know it all got undone when I had the heads replaced (under warranty

for mis-manufactured leaky head gasket seats!!!) in 2006, so it looks like it got done sloppy. I guess it could provide places for wate to linger and drip and soak into old connectors.
If I start getting the misfires, I'll ask the tech for that information. But maybe I can lick this before it gets to that point.
While I'm at it though, I have a massive supply of split loom, 1/2 and 1/4 inch heat shrink and electrical tape. I think electric blue loom would look good.
The one thing I did want to rule out is water dripping on my PCM. I've heard something about leaky windshield gaskets or something. But I imagine the symptoms of that would be a bit more pronounced.
And galaxie641, thanks for answering my question. I'm still not sure about this whole distributorless ignition thing.