Hello there :)
Just to say that i'm really low dubious in SS and i got the ring the first time i did the quest (got 6pp too)... so it's not "faction related"
It's a great thing that the ring isn't "no drop" :)
And i really couldn't take the 2 spiders near the bank without aggroing the guards... could only take the one on the pool (safe if you fight it in the water) and the other one in the bedroom (you just have to wait for the guard to leave the room and then you have a few minutes before he comes back)