[Vast Buffalo Wing Conspiracy]

Did Elrond even have his ring at that point? I believe it was Gil-galad's, so he would have inherited it from the dead Elven King. When this took place I do not know. I have no idea what effect having a ring of power would have. Gandalf and Galadriel had rings of power too, and they both refused to take the One Ring. In fact Gandalf only touches the One Ring before he knows what it is; once he knows what it is, he won't risk touching it at all. That probably says all that needs to be said on that topic.

[HairOfTheDog]

When I brought this up once before, we determined that Elrond would have had his ring at the time Isildur took the One, and JenB can probably tell you how we know that! I am not the historian in the group.

[JenB]

It's not said when Elrond recieved Gil-galad's Ring. I doubt he would have stripped it from his dead king's still-warm hand. Even if he had he would not yet have know what the rings could do.

I think Gandalf and Galadriel's refusal to touch the Ring was not because of their own rings but just because it was the Ring. If you like I'll go into more detail in a bit but I have to run an errand.