AbstractLet R be a hereditary, indecomposable, left pure semisimple ring. Inspired by [I. Reiten, C.M. Ringel, Infinite dimensional representations of canonical algebras, Canad. J. Math. 58 (2006) 180–224], we investigate the perfect cotorsion pair (C,D) in R-Mod generated by the preinjective component q. We show that there is a finitely generated product-complete tilting and cotilting left R-module W such that C=CogenW and D=GenW. The finite subcategory w of R-mod given by the indecomposable summands of W stores important information on R. For example, if we assume R of infinite representation type, then by [B. Zimmermann-Huisgen, Strong preinjective partitions and representation type of artinian rings, Proc. Amer. Math. Soc. 109 (1990) 30...