The One Ring in Westeros

[bookworm1138]

It's the new "Star Trek vs. Star Wars" argument, and I think that it has not been done justice, so I'm opening it up for discussion.

I feel that a lot of fans devalue Lord of the Rings in comparison to Game of Thrones, since GoT is considered "serious" and "darker". Most people only compare the two with what they saw in the films.

So here is my hypothesis: suppose the One Ring came to Westeros, how would that end up? Now I've seen some people quote the Silmarillion in stating that the One Ring only had power over Arda/Middle Earth, but let's assume that, for the sake of arguing, that does not apply. The One Ring does have the power to rule over all the mortal races (Elves, Men and Dwarves), and there are no Elves or Hobbits in Westeros...so what do you think would happen if the Ring came into the possession of someone in Westeros?

[Linhir]

I would be even bigger masacre than that ones which already happened in SoIaF universe. Destruction of Valyria compared to what could happend, will be just childish trifle.
And, the One would most propably end up on Baelish's dick.