Choose the cooking method according to how you like your beef -- pre-seared will produce a roast that is crisp on the outside with a well-done steak near the surface, and a rare eye of the rib. The slow roasted beef will be an even pink throughout. Both are excellent eating! Carve thinly for best appearance, flavor and eating. Pre-Searing Method Rub the standing rib all over with freshly ground black pepper. Place it on a rack in a shallow pan, fat side up. Roast in a preheated 500°F oven for 35-40 minutes, basting twice with melted butter. Reduce the heat to 325°F and roast 30 minutes longer. Baste the meat with pan juices and test the internal temperature of the meat by inserting a thermometer into the thickest part of the eye of the rib. Continue to roast, basting every 20 minutes and checking the temperature until the thermometer registers 120°F - 125°F for rare or 130°F - 135°F for medium. Remember that the roast will continue to cook as it rests before carving. (Total cooking time will be about 12-14 minutes per pound for rare). Remove the roast to a hot platter or cutting board and let it rest for 15-20 minutes before carving to allow the meat tissue to relax and reabsorb the juices. Low Temperature Method Have the roast at room temperature. Rub the meat all over with freshly ground black pepper. Place the roast, fat side up, on a rack in a shallow roasting pan and place in a preheated 250°F oven for 2 hours. Salt and pepper the meat and continue to roast for an additional hour. Insert a thermometer into the thickest part of the rib eye, not touching bone, and check the internal temperature.
Remove the roast when the temperature is 120°F - 125°F for rare or 130°F - 135°F for medium. Remember that the meat will continue to cook as it rests before carving. (Total cooking time will be about 20 minutes per pound for rare.) Let the roast rest on a hot platter before carving -- this resting period is essential to allow the meat tissue to relax and reabsorb the juices.