Received the quest and did as it told me. Upgraded my ring to 2.0 but had extra charge orbs so took it up to 2.4. The quest still tells me I need to upgrade my ring however, leaving me stuck since I have already done so.
Because of an update that happened in 2009, Elizabeth and Leon are silent. The devs decided not to fix it. However, post this glitch on this thread using the suggested format and there may be a chance that this will finally get fixed!