Interesting point. I always assumed (quite possibly wrongly)that it meant that they could not hope to get the ring back west to the Grey Havens - though with the Nazgul temporarily disabled, I am not sure that that would be the case.
Certainly if "going West" was a serious option Gandalf deserves to be smacked - it was bad enought that it took him so long to make the connection with the one ring and Bilbo's ring, without sending Frodo on foot all the way to Rivendell when the havens were a few days ride the other way. However it would have been a very short book.
I suppose if a naval assault were made, then Sauron had the fealty of the Corsair of Umbar but I don't know how vulnerable an elven ship on "the straight road", would be how soon it would pass beyond reach of the mortals of Middle Earth.
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“But Finrod walks with Finarfin his father beneath the trees in Eldamar.”
Christopher Tolkien, Requiescat in pace
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