I promised on the softimage list a while back that I would post some of the lightning/electricity compounds I used on recent projects: verizon etc etc. But I'm still not sure if I'm legally clear to release them. While I sort it out though, here's a very, very simple approach to making point-to-point electrical arcs, like "dark jedi" electricity, simple lightning, that sort of thing.
A sample scene is included. To use, make an unsimulated pointcloud and a target geometry, and connect the compound. Lightning can be set to strike at random intervals, or always be on.
Super, super simple, but hopefully it is of interest. Cheers.