This 2-step cooking method results in a roast with a deep brown crust on the exterior and a perfect medium rare all the way through, edge to edge, without that layer of overcooked meat around the edges. I wish I had taken a picture of it, but it looked something like this:
3 rib standing rib roast - about 7 pounds
freshly ground black pepper
Bring roast to room temp - 2 or 3 hours.
Rub roast with olive oil.
Season with salt and pepper.
Cook at 200 degrees for 30 minutes per pound, or until the internal temp of the roast is 120 degrees for rare, or 130-135 for medium rare.
(Note: my 7 pound roast took EXACTLY 3 hours, 30 minutes).
Let rest 30 minutes to one hour. DON'T tent with foil.
(Note: I let mine rest for an hour and it was still hot inside.)
Meanwhile, turn oven to 550.
After resting, return the roast to the hot oven and cook until nicely browned (about 8 minutes). There is no need to rest the roast again after this last blast in the hot oven.
Makes enough for 5 generous slabs of roast beast and ample left-overs.
Low-temp prime rib roasting from Cook's Illustrated "Best Recipe," the 1999 edition: http://chowhound.chow.com/topics/354187
The Johnson Family Cookbook