First of all Gandalf was planning on being with Frodo to the end. And in the case that Frodo could NOT throw the ring into Mt Doom I am quite sure Gandalf would have forcefully taken it and thrown it in himself. He is not crazy, hopeful perhaps, trusting, but not crazy.
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My body is broken. I go to my fathers. And even in their mighty company I shall not now be ashamed. I felled the black serpent. A grim morn, and a glad day, and a golden sunset!
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