[IxnaY AintsaY]

‘Precious, precious, precious!’ Gollum cried. ‘My Precious! O my Precious!’ And with that, even as his eyes were lifted up to gloat on his prize, he stepped too far, toppled, wavered for a moment on the brink, and then with a shriek he fell. Out of the depths came his last wail Precious, and he was gone.

Originally Posted by Inziladun

I think what Mith meant was that at the moment of Gollum's fall into the Cracks, he was then fully content. He had his Precious again, he was saving Frodo, for whom he actually did have some genuine affection, he was forever depriving Sauron of the Ring, and Gollum himself could die, finally free of the Ring's influence forever.

I suppose that could be a credible insight into Gollum's psychology, although I can't help but think the final state of his mind might be more nearly and concisely summarized by the expression "Oh, bollocks."