Well if you had water in the oil, you'd be looking for a clean plug. That, or a bad plug.

I'd drive it for a bit, then change the oil again before your regular oil change. Just to make sure you got all the water out. Maybe 100 miles or so? I'd just be scared of water on your bearings.

To close this one out, I replaced the oil again and it was still skipping/misfiring/stalling. Last night I removed the Distributor Cap and Rotor and had them replaced under warranty (I had recently replaced them at Autozone). So far the truck has run great with no issues since the replacement. The old cap had white and green corrosion on the terminals.

Water in the oil is also a symptom of a head gasket issue.
You can also check to see if you have bubbling in the radiator. That's another trait of head gasket problems. The compression from the cylinder with the bad seal backs up through the water jacket and shows up as bubbling or agitation in the radiator.

I'm not saying that's your problem, on that it's one of the signs of it. It can also cause a misfire.

If nothing else it's something you can eliminate with out spending more money.