*takes deep breath*
You can do much more, in fact:
+ You can threaten him with the Blade of the Immortal - he'll merge with you because he'll be destroyed otherwise (you have to convince him you share a link first) - This was my ending
+ You can force him to merge with you by telling him you know 'our' name - which in fact the player never learns (no it is not Adahn, that's a different story - have you found Adahn, spick?)
+ Tell him you were not meant to be divided, and that things will be fine if you merge again - he'll believe you and merge (req. CHA 24)
+ You can also threaten to unmake yourself by sheer force of will, which will force him to merge again (req. WIS 24)
+ Also, if you've managed to talk Vhailor to death or managed to 'create' Adahn, your answer will be 'Belief can change the nature of a man' - which will allow you to unmake the Transcendent One with your wilpower. (req. WIS 21)
+ You can force him to merge with you through sheer force of will (req. WIS 24)
+ You can attack and destroy him by saying "Let's see if my mortality can be slain!"
+ You can talk to him about his powers, which allows you to resurrect one party member before you fight TTO
+ You can actually tell him he has to go check on his shadows, which gives you time to resurrect all of your companions (req. CHA 21) and face him with your companions by your side - you must have found the Sounding Stone in order to do this.
+ You can actually commit suicide with the Blade of the Immortal, causing your death and the Transcendent One's. You will get the 'You are incapacitated and can no longer complete the game'-message, or the video of the Trancendent One's destruction, can't remember which.
+ You can also actually unmake yourself with your will, which will cause your destruction.
Either way, if you destroy him, your companions stay dead (maybe you can resurrect one companion quickly by talking to him about his powers - or two, if you talk to Morte first (he's playing dead)
If you merge with him, you will resurrect all your companions and say your goodbyes to them. So merging is definitely the better alternative.
Regardless of what happens, however, you will have to pay for 'your' crimes, and the Nameless One gets sentenced to Hell - which in Planescape means fighting in the Blood War (remember Death's Advocate's lecture in the Festhall?)
By the way Egin, there were actually three answers to 'What can change the nature of a man?' - The Transcendent One's answer was indeed 'nothing' (this was my answer to Ravel too), but the first incarnation's answer, and thus the answer of the Nameless One altogether was 'Regret'. If you managed to force Vhailor to unmake himself by talking him to death, or if you've managed to create Adahn, The Nameless One's answer will change to 'Belief'
Ahhh...what I loved about PS:T -- so many ways to finish the game.
(Also what I loved about NWN:HOTU.)