-just throwing in some additional food for thought...With the mention of Gandolf, I remembered a wonderful article by Jay Weidner on the Alchemical interpretation of Lord Of The Rings called "Tolkien at the end of Time"....(some excerpts)...
'The chief power (of all the Rings alike) was the prevention or slowing of decay (i.e. 'change' viewed as a regrettable thing), the preservation of what is desired or loved, or its semblance. But also they enhanced the natural powers of a possessor * thus approaching 'magic', a motive easily corruptible into evil, a lust for domination.'
-J.R.R. Tolkien from the Preface to The Silmarillion
"It cannot be overemphasized that Tolkien equates the Ring with the Machine. Today, at the end of the Fourth Age, the Ring encircles us like the fence that surrounds the unicorn in the famous French tapestry. Bewildered by its beauty and astounded by its power, it seduces us into its trap. Like the Ring, technology offers us a 'false immortality'. Like Sauron and the corrupted wizard Sauruman, unashamed of their audacity, our technocrats promise us that this 'false immortality' equals freedom and life. Just open your eyes and look around. The purveyors of technology constantly promise a world of free energy and genetic miracles that will extend life and feed the world. Indeed one of their main promises is that they can eventually create an immortal human being. Technocratic philosophers even preach that it will one day be possible to download the human soul onto a microchip. This is the final seduction of the Ring or Machine that Tolkien knew would herald the end of this Age."
here's the entire article...
http://www.jayweidner.com/JayTolkien1.htm