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 from fat to bone. Both are excellent eating! Carve thinly for best appearance, flavor, and eating.
Rub the standing rib all over with freshly ground black pepper. Place it on a rack in a shallow pan, bone side down. Roast in a preheated 500°F oven for 35 to 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, not touching the bone. Continue to roast, basting every 20 minutes and checking the temperature. (Total cooking time will be about 12 to 14 minutes per pound for rare.)
Low Temperature Method
Have the roast at room temperature. Rub the meat all over with freshly ground black pepper. Place the roast, bone side down, 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 the bone, and check the internal temperature. (Total cooking time will be about 20 minutes per pound for rare.)
For Either Method
Remove the roast to a hot platter or cutting board when the temperature is 120°F to 125°F for rare, 130°F to 135°F for medium-rare, or 140°F to 145°F for medium. Let it rest for 15 to 20 minutes before carving to allow the meat tissue to relax and absorb the juices. Remember that the meat will continue to cook as it rests before carving.