You may or may not be familiar with the http://www.uesp.net/wiki/Oblivion:Temple_of_the_Ancestor_Moths_(place) At the end of the temple catacombs there is a blind moth priest who seems to be a kind of generic npc like the other inhabitants. However, he is loosely involved in a particular quest for a major questline (I know this is the spoiler section don't want to spoil it if you haven't done it yet) and therefore always respawns with a high level piece of enchanted jewelry. I do not know if he can have the flame ring at level 4 (when he starts to carry enchanted jewelry) but I know I have gotten it from him at higher levels. He, or rather his cell, respawns every 72 hours, and he is the only member of the cell which itself is rather small. All you have to do is make it through the catacombs, and save before you enter his cell. Then you go in, kill him, and see what jewelry he has. If you don't like it you just reload your save, enter the cell, and kill him and he will have a different piece of jewelry. You can do this unlimited times because he respawns every 72 hours, and you can just wait 72 hours right outside the door every time.