Rumil - good points, all. The only one I can think of to add off the top of my head is the Palantir. Two factors (1) no Pippin to look into it, and it's impossible to picture even the most powerful Elf trying to snatch it from under Gandalf's arm, thus leading to serious consequences when Gandalf looks into the Palantir himself. (Gandalf says as much in TTT, that if he had looked in the consequences may have been disastrous). (2) Gandalf could well still be the Grey at this point. If Gandalf the White was dubious about his ability to look into the Palantir, how would Gandalf the Grey have done? Not good, is my guess. The Quest might have over a lot quicker, and nastier.
Add everything you pointed out after that - Eowyn unable to strike the Witch-King, no saving of Faramir - and we're looking at a Pyrrhic victory if there ever was one.
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Father, dear Father, if you see fit, We'll send my love to college for one year yet
Tie blue ribbons all about his head, To let the ladies know that he's married.
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