The roast turned out wonderfully. Very rare in the center with some nice charred outer parts and a crust that was just addictive. All that said I don't know if it was that much better than I could have done at a good butcher here in LA at the $22 per pound it cost for a 4 lb. roast.
I went with the high heat searing method for 25 minutes at 450 degrees F then reduced to 350 for the remainder of the 1 hr. and 30 minute cooking time.
I made a paste from roasted garlic, prepared horseradish and coarse sea salt which I slathered on the roast and then let sit, covered in the fridge for 3 hours. I also slivered some raw garlic and cut slits in the meat and pushed them in all over the ends of the roast.
I bought ultra thin asparagus and wok cooked it at very high temp with a bit of oil and garlic and made mashed potatoes so that I would have something to pour the gravy over.
Finally I bought a bottle of Ravenswood merlot at Ralph's for 9.99, but I let it breath for 45 minutes before drinking it and it was great to my untutored buds.
Thanks again to all who replied to my original post. My wife was most impressed and, since she loves prime rib, thankful for my choice of menu.
Oh yeah, I made the teen weasel do the dishes.