I wholeheatedly agree with your analysis. Frodo lost the willpower to
resist the Ring, he did not give into temptation. Frodo on several
occassions wished to divest himself of the Ring, but ultimately accepted his
role as Ringbearer without any thoughts of personal power.
Your final paragraph about Frodo "so what is needed is something beyond the
will of the individual: the Grace of Iluvatar for previous Pity and
Forebearance of Gollum by Frodo." is especially apt. The real test for
Frodo is when he has Gollum captured and at his mercy. Early in the
story, he felt revulsion towards Gollum("...it is a pity Bilbo did not kill him
when he had the chance."), but through the influence of Gandalf(...I suspect he
may have some part to play in all of this before the end.") he changes his
attitude. Eventually the choice not to kill Gollum is the one that
overcomes even the power of the
Ring.
