I only have one Ring of the Ram. I haven't been doing as much pickpocketing as I could, but have increased the frequency...though I have not tried it b/f fighting someone. Don't think I would since I would get whatever they have once I beat them.

One Ring of the Ram is plenty. I love it because it
a) Punches through almost any spell or combat protections
b) Disrupts spellcasting, and
c) Knocks the enemy away, usually out of sight, which with most enemies means they forget about you until you re-enter their sight range.

With Kangaxx, I love it because it knocks him away from the center of that tiny room, so those party members that I wish to remain non-combatants can be safe at the other end of the room.