Caley beat the Staggies 3-1 in their first Clydesdale Bank Premier League encounter in October but it looked like Derek Adams' side would extract revenge in a thrilling cup tie in Dingwall at the beginning of the month when skipper Richard Brittain put the home side ahead for the first time in the second minute of added time.
However, his Caley counterpart Richie Foran stunned the still-celebrating home support when he scored three minutes later to make it 3-3 and ensure a replay.
"There have been two crackers and this is the third instalment," said Butcher, whose in-form side leapfrogged Hibernian into second place in the SPL on Saturday with a 3-0 home win over the Leithers. "There has to be a winner and there has to be a loser so it has the making of another entertaining match.
"There has been so many twists and turns in the previous two matches I'm sure there is going to be more in the third. We will give them the respect and they deserve that.
"They are scoring goals, Rocco Quinn is on fire at the moment, and they have good delivery on free-kicks and corners, so they are a threat. But having said that, in the two matches against them we have scored three goals in each and we aim to score and win again. So everyone is looking forward to it. "
County boss Adams is looking for improvement at both ends of the pitch following their 3-2 defeat against Motherwell at Fir Park on Saturday.
"We have to do a lot better than we did against Motherwell to get through the cup match," he said. "If we defend like that and don't take the chances we had we will be out the cup.
"We had other opportunities to score more, very good opportunities, you would have to say they were sitters.
"We are not putting them in the net and are conceding at the other end so it is a wee bit kamikaze and we have to get away from that. We cannot be so naive because good teams will pick us off."