Combine the roast and 2 cups of the salad dressing in a large plastic storage bag.
Squeeze out excess air, seal tightly, and massage to coat the meat all over.
Marinate in the refrigerator for at least 2 hours and up to overnight, turning the roast over at least once.
Preheat a heavy (preferably cast-iron) Dutch oven over high heat.
Add the oil.
Remove the roast from the marinade, and add it to the pan.
Brown on all sides, 4 to 5 minutes.
Sprinkle the meat with the seasoned salt and pepper.
Add the water and the remaining 1/4 cup salad dressing.
Cover, reduce the heat to low, and cook until very tender, about 3 hours, checking occasionally to see if additional water is needed.