Sorry, I haven't read every post.
Has anyone mentioned the symbolism of the shape of a ring? A circle, it binds the finger. It holds the ring-bearer prisoner, symbolically. This suggests to me that a ring as a crafted Elvish item holds a different kind of power by virtue of being a ring, as opposed to lembas, elven rope, elven cloaks, silmarilli, phials, or what have you. That Elves made many items other than rings, as exampled above, bespeaks to me the significance and symbolism of the shape itself.
Not only in shape, but think of the ring's prominence in (at least western) human culture. It is the symbol of the promises/vows binding two people together in marriage. Thus, culturally, rings are linked to bondage, whether willing or forced.
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