stel8,
1) Are you testing the lubricant and therefore do not care if the ring develops cracks? 1/2 height is severe deformation and cracks would seem a distinct possiblility given swall's comment even though this is a very ductile alloy.
2) The Lead will not have much effect on heat treatment.
3) You could try stanweld's suggestion at about 1200-1250F but you might need to perform a full anneal at about 1650F and furnace cool for dead soft.