For what it's worth, I think it would have corrupted them to the same level as Sauron but I'm not sure they would have the strength even with the ring to become a Dark Lord over all Middle Earth. Sauron was powerful even when he didn't have the ring whereas everyone (except "the wise" and Isildur) were common folk.
The ring tempted Deagol, Smeago, Bilbo, Frodo, and Sam according to their own little ambitions and I can see where the ring would eventually hold out that "Ruler of Middle Earth" carrot. But it seems to me that they wouldn't have the strength to achieve "Dark Lord" status and would all end up shriveled like Gollum.
Poor Smeagol -- his ambitions mounted to no more than fish three times a day.