Well, I say no. Because Smeagol and Frodo were two very different hobbits (assuming Smeagol is a hobbit). Besides that fact, Frodo did not have to kill anyone to obtain the ring, he inherited it. Bilbo is the same as Frodo, but Bilbo found the ring. And already, before Bilbo even put it on, he was reluctant to give away the ring or to even let Gollum know he had it. But, I think if they became corrupted by the ring, they would probably end up withered and isolated like Gollum, somehow, someway.
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Do Not Touch
-Willie
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