Absolute EGT temps are pretty much meaningless. Tiny variations in the placement of the probes (or variations in the probes themselves) can cause significantly different readings. And unless your exhaust pipes are all four perfectly identical (a virtual impossibility on any airplane I've ever seen), the different curvatures can also cause variations.
What DOES matter is when the EGT peaks for each cylinder, with reference to the other cylinders. Usually, you'll find one cylinder that reaches its peak EGT
first – before the others do – because it runs leaner than the others. So that is the cylinder to use when measuring "rich of peak" (ROP) operations (like the "book" figures). When you're operating ROP, you want to be 100% sure that ALL of the cylinders are rich of peak EGT. Using that "leanest" cylinder's EGT ensures that ALL the cylinders are above peak EGT.
There's usually a
different cylinder that is the
last one to reach peak EGT, and that is the one to use when measuring "lean of peak" (LOP) operations, because it is the "richest" cylinder. Since you're not truly LOP until ALL of the cylinders are running lean of peak EGT, using the richest cylinder for LOP measurements is the right thing to do.
The big thing is to avoid the EGT range where the highest Internal Combustion Pressure occurs. That's typically around 40-50ºF on the rich side of peak (ROP). It's in that area, at high power settings, where your cylinders experience the most stress. If you want them to last longer, either run at 100ºF (plus) ROP, or run them LOP (perhaps 20-50ºF LOP).
All this info comes from the Advanced Pilot Seminar, put on by George Deakin, Walter Atkinson, and George Braly (though George's name is no longer listed on the site:
www.advancedpilot.com). Probably the best aviation education course I've ever attended - bar none.