I suspect that the 4v K100RS was just to provide a way to use a lot of K1 engine/drive line parts. The increase in HP acheived from the 4v engine was also important in maintaining the performance image of the RS in the face of the Japanese bikes of the era.
I have a 1992 K100RS, and it is my favorite ride. It's as smooth as my K75 bikes, pulls effortlessly at almost any engine or bike speed, rides and handles well, is comfortable and with the K1100RS fairing lowers looks really nice. I can't see where there is any difference between it and the later K1100RS other than the 1100 is going to cost a few bucks more.
The only downside is that the RS mirrors and turn signal lenses are no longer available from BMW.