Sméagol: Hero of the Third Age

[Guinevere]

Hm, this is an interesting thought, Nilpaurion Felagund!
Though I agree with the others that in the actual tale Gollum took the Ring from selfish reasons and fell in by "accident".

But do you know that Tolkien himself pictured a scenario that could have happened IF Sméagol had actually repented in that tragic moment on the stairs? (If Sam had acted differently... )
From letter 246(written 1963)

The interest would have shifted to Gollum, I think, and the battle that would have gone on between his repentance and his new love on one side, and the Ring. Though the love would have been strengthened daily it could not have wrested the mastery from the Ring. I think that in some queer twisted and pitiable way Gollum would have tried (not maybe with conscious design) to satisfy both. Certainly at some point not long before the end he would have stolen the Ring or taken it by violence (as he does in the actual Tale). But "possession" satisfied, I think he would then have sacrificed himself for Frodo's sake and have voluntarily cast himself into the fiery abyss.
I think that an effect of his partial regeneration by love would have been a clearer vision when he claimed the Ring. He would have perceived the evil of Sauron, and suddenly realized that he could not use the Ring and had not the strength or stature to keep it in Sauron's despite: the only way to keep it and hurt Sauron was to destroy it and himself together- and in a flash he may have seen that this would also be the greatest service to Frodo."