Inspiration for the One Ring

You are correct, one thing that is used over and over again, is that Tolkien needed influences and had no imagination

This is incorrect in nearly every case, but I think this may have some validity, interesting to see comments.

http://books.google.com/books?id=B0lo ... onepage&q=wheeler&f=false

Wheeler is also mentioned in Scull and Hammond's C&G

Nope; there's no evidence that Tolkien visited the site - there was no reason for him to do so; he and Wheeler communicated by letter. Tolkien was asked to write about the name Nodens; the Silchester ring was not discussed in the Wheeler report.