If Sauron had recovered all the Rings, obviously he would have been unstoppable. If even he had recovered the One, the Free People would have been very hard-pressed to stop him.
Having the One doesn't mean that he would control all the others. The Nine were already under his control, while only three of the Seven were intact. The Three aren't under the control of the One. During the Last Alliance the Elf-lords didn't use them, so Sauron could not search them out to corrupt them.
If Sauron had the One, he would have been unstoppable by the world of Men. Only the combined strength of Men, Elves, Dwarves, and Isengard would've had a chance to stop Mordor.
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