I've read Tolkien's magnificent book series compleletly twice now, and I'm halfway through my third run (almost finished with the Two Towers). In all my readings, I never once questioned the power of the One Ring. However, it occured to me that I had absolutely no clue why the One Ring was so damn powerful. It's pretty obvious Sauron had it at one time and easily lost it. What's the danger of him getting it again? That question never occured to me until recently.