Well, I was never a huge fan of those -1 Vitality abilities, but what can you do...
Basically, creating a new Ring is like creating new Duals in MtG. You try to tweak, it, but not too much, as it could become more powerful that the standard one. I also would never, ever risk having a 2-vitality RB in my starting fellowship, as any good wounding Deck would kill him during the first two sites.
Actually, I had another idea. It seems pretty weird, and I'm not sure if I like it by myself, but I'll post it anyway:
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The One Ring, The Ruling Ring (V)
Strength: +1
Game Text: Response: If bearer is about to take a wound, you may discard a card to make him wear The One Ring until the regroup phase. While wearing The One Ring, each time the Ring-bearer is about to take a wound, add a burden instead.
I thought like: What kinda resources could we use? Threats? Nah, that doesn't really fit. Extra Burdens? Has been done before. So I came up with discarding cards, which can be both a negative and positive effect. Still has to be tweaked a bit, but the more I think of it, the more I start to like it. And discarding cards from hand was a pretty common theme in FotR Block.
So?
EDIT:
Basically the Rong of Rings with stength Bonus instead of Resistance. I'd found interesting to have a line like: "Exert the Ring-Bearer twice to take off the One Ring", but that would pretty much destroy some of those "Force to put on the One Ring" strategies.
I don't think so. I'm not sure if it would be useful, since the most common way to FORCE putting on the ring (Resistance Becomes Unbearable) would overcome the ability.
I was thinking of annuling effects à la
Return to Its Master, but anyway...