I have always hate elves. Both for fluff reasons (near immortal know-it-alls, who either invented or perfected everything) and rules reasons. In every edition I've played, and I've played them all, the elves come out the best when compared to the other core races.
In the current rules set elves are immune to sleep, weapon profiencies with longswords, rapiers, and bows, essentially (sp?) giving an non warrior type elf four free feats. They see well in the dark. Reason? - beats me. Have bonus toyseveral skills and can find a secret door by walking near it. Are there a lot of secret doors in the woods?