Throwingsteel,
You mention a "parting line". Is this part forged?
If the stock material is hot rolled or hot forged, it is standard practice to remove the outer 1/8" (or so) of hot rolled bar stock, or to 100% machine hot forged blanks. This is because the hot working process can contaminate the outer layer of material.
Also, induction hardening is usually a localized process. That is the whole part is not subject to the heating/quenching process. Personally, I would not use induction hardening (or similar processes like flame hardening) unless I was concerned about distortion during quench. The transition area between the heat treated area and the non-heat-treated area can cause problems.
Finally, trying to get a TS of over 250 ksi (Rc 50) with 4140 is really pushing the limits for that alloy. You might want to consider another material.
Good luck.