An implantable medical lead for use with an implantable cardioverter defibrillator, a method of manufacture and a system employing the lead and cardioverter/defibrillator in combination. The lead is provided with an elongated insulative lead body carrying a cardioversion/defibrillation electrode, which includes a first portion displaying essentially equal attenuation of positive and negative voltage pulses and a second portion displaying differential attenuation of positive and negative voltage pulses. The cardioveter/defibrillator provides a biphasic pulse in which a higher amplitude phase of the pulse is differentially attenuated by the electrode. The electrode is fabricated in whole or in part of a valve metal such as tantalum, anodized and annealed to provide a thick, durable oxide coating.