[ChiefJayStrongbow]

Never seemed that the “ring of power” was all that powerful...the ring turned the wearer invisible. Big deal. Was there more to it?
(One of the few books of this genre that I couldn’t take reading ... got all my info from the movies)

[2ndDivisionVet]

The Wheel of Time series by the late Robert Jordan was better, anyhow, IMO.

[MissNomer]

Never seemed that the “ring of power” was all that powerful...the ring turned the wearer invisible. Big deal. Was there more to it? The invisibility thing was really more of a side effect. The Ring's powers included giving the wearer virtual immortality (as long as he possessed it), but more importantly, it gave the wearer (if he was suitably powerful in his own right) the power to control the other rings of power (including the three Elven rings, the nine rings of the Nazgul, and the seven rings of the Dwarves). Frodo couldn't do that himself, but he did have the ability to see things as they were on the other side. For example, he could see that Galadriel had one of the Elven rings (nobody else could see it on her finger).

All in all, the Lord of the Rings trilogy provides an interesting take on the lust for, and corrupting influence of, great power, with emphasis on its application in socialism. The chapter called "The Scouring of the Shire" provides a rather eerie and prescient picture of British society. This was left out of the final movie, of course.

[I-ambush]

It gave power, and corrupted one based on his (or her, in the case of Galadriel) native power. That is why the wise, such as Gandalf or Elrond, feared to hold the
Ring, even for safekeeping.
(OK, I’m a Tolkien geek)

[sourcery]

There was a lot more to it...if you knew how to use it. Gandalf, Sauron and the leaders of the High Elves could have used it. Frodo and Bilbo didn’t have the knowledge. In hands of an ordinary man or Hobbit, it was essentially equivalent to having weapons-grade plutonium, but no idea how to turn that into a bomb or nuclear reactor.

[dangus]

Immortality. Elves were not truly immortal, only ageless. The ring made one impervious, not merely ageless, and therefore capable of anything in battle.

[OneWingedShark]

Never seemed that the “ring of power” was all that powerful...the ring turned the wearer invisible. Big deal. Was there more to it?

Yes. Did you see the latest Harry Potter movie? Where Voldermort's secret was placing [portions] of his soul into objects so that he couldn't be destroyed; it's the same idea.
{Also, when Sauron forged his ring he tied it to all the other [powerful] magic rings (that he had taught the other races to make, btw) to make those rings subservient to his... that was the origin of the ringwraith.}