Actually, their war against the Orcs of the Misty Mountains prior to Bilbo's quest to Erebor severely depleted the number of Orcs available to Sauron during the War of the Ring.
Otherwise, the Orcs and Goblins would have posed much more a threat to Rivendell, Lothlorien and the Woodland Realm while so much attention was directed to the battles in the south. They also would have posed much more a threat to anyone (like Bilbo and Thorin's party) attempting to cross the Misty Mountains.
Also, when Sauron launched his forces against Lorien, the Mirkwood Elves and Dale, the Men of Dale and Dwarves of Erebor fought together against the Easterlings and were beseiged within the Lonely Mountain where both King Brand and King Dain Ironfoot fell and died.
Plus, the Dwarven population centers were pretty far from the action featured in LOTR. The Blue Mountains were way too far, further than the Shire, the Iron Hills and Lonely Mountain Dwarves were somewhat nearer, but, as I said, preoccupied by the Easterling invasion once that happened.
(I know WAY too much about this, don't I?)
I bow to your geekiness.
Don't forget the dragon (Smaug) either. I think it's in Unfinished Tales where Gandalf comments that without the quest of Erebor and the ridding of Smaug, Rivendell probably would have been destroyed and Gondor left without a queen.