The Silmarillion is essentially a history book for the LotR universe.
It's elf arrogance.
No, it would have corrupted him. The thing with Hobbits is that they enjoy simplicity and don't seek out fame, power, riches, or glory. Aragorn may have ben able to resist the ring long enough to let Frodo go, but it would have corrupted him eventually. He wanted things in life, to prove himself worthy of being the heir to Gondor, to defeat the evil of Mordor, to be a worthy king, to be with Arwen. The ring would have fed off these desires and twisted them around, eventually corrupting him and making him believe that he could achieve these things with the ring's power.
Frodo simply wanted his simple, peaceful life to continue the way it always had been. He didn't want anything more in life, which is why he was so resistant to the ring's power, and even then it corrupted him by the time he made it to Mordor.