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“Deserves it! I daresay he does. Many that live deserve death. And some that die deserve life. Can you give it to them? Then do not be too eager to deal out death in judgement. For even the very wise cannot see all ends.” (FR I:2, 68–69)
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I think that Gandalf was counseling against rash judgment and 'stabs in the back' - killing in cold blood. Slaying Gollum in the heat of the moment would not have garnered any tut-tutting from the Grey Pilgrim; stabbing the foul creature when Bilbo's situation did not require it (leaving the caves) would have been the first step down a dark road, the same that Smeagol took.
And note that, though Boromir was tempted, he still did not murder anyone over the Ring. Obviously, being a warrior, he'd killed many enemies of his Lord, yet did not draw his sword when confronting Frodo. Smeagol, on the other hand, immediately murders Deagol when the latter will not willingly yield his prize. To me it's also significant that Gollum's own hands do the deed. No weapon, rock or branch are used, but hands upon a living neck crush out a companion's life.
Gollum had it in him to 'do murder;' the Ring just brought it to the fore.
What of Faramir? Doesn't Frodo pass on Gandalf's admonition when Faramir's silent archers make to shoot Gollum unawares? Faramir sees into the black soul of the wretched creature and passes a judgment. Free to go with Frodo; death if found without its Master.