It's the deep breath before the plunge.

Are we riding far tonight, Gandalf?” asked Merry after a while. “I don’t know how you feel with small rag-tag dangling behind you; but the rag-tag is tired and will be glad to stop dangling and lie down.”
“So you heard that?” said Gandalf. “Don’t let it rankle! Be thankful no longer words were aimed at you. He had his eyes on you. If it is any comfort to your pride, I should say that, at the moment, you and Pippin are more in his thoughts than the rest of us. Who you are; how you came here, and why; what you know; whether you were captured, and if so, how you escaped when all the orcs perished—it is with those little riddles that the great mind of Saruman is troubled. A sneer from him, Meriadoc, is a compliment, if you feel honoured by his concern.”
“Thank you!” said Merry. “But it is a greater honour to dangle at your tail, Gandalf. For one thing, in that position one has a chance of putting a question a second time. Are we riding far tonight?”
Gandalf laughed. “A most unquenchable hobbit! All wizards should have a hobbit or two in their care—to teach them the meaning of the world, and to correct them.

Gollum merece la muerte. La merece, sin duda. Muchos de los que viven merecen morir y algunos de los que mueren merecen la vida ¿Puedes devolver la vida? Entonces no te apresures a dispensar la muerte, pues ni el más sabio conoce el fin de todos los caminos.

Here was one with an air of high nobility such as Aragorn at times revealed, less high perhaps, yet also less incalculable and remote: one of the Kings of Men born into a later time, but touched with the wisdom and sadness of the Eldar Race. He knew now why Beregond spoke his name with love. He was a captain that men would follow, that he would follow, even under the shadow of the black wings.

Look, my friends!' he called. 'Here's a pretty hobbit-skin to wrap an elven princeling in! If it were known that hobbits had such hides, all the hunters of Middle Earth would be riding to the Shire.

The road goes ever on and on