Use it in Mordor, ideally along with Theoden or Shadowfax, whichever is the Grey 2 Travelling (or a Grey 2 Wild card if you still have one). Throw in Gandalf's Guidance (?, the one that acts as 2 Wilds) and you've moved 7 spaces on the opening turn. Even if you get eliminated by the two die rolls (1 for Gollum, one for the space around the middle), other player(s) have so many fewer spaces to go through to reach the end. Given that the Ring moves you 3 spaces 50% of the time, they have like 3 or 4 spaces to go, which can easily be done in one turn.
Die rolls aren't all that bad, assuming you've done decently in the game prior to that point, you should have A) enough room to not meet Sauron or B) still have cancellers ready (either not to roll the die or cancel the result in case of a bad roll).