Yes except for:
Proficient with natural weapons only, unless generally humanoid in form, in which case proficient with all simple weapons and any weapons mentioned in its entry.
Proficient with whatever type of armor (light, medium, or heavy) it is described as wearing, as well as all lighter types. Elementals not indicated as wearing armor are not proficient with armor. Elementals are proficient with shields if they are proficient with any form of armor.
Elementals do not breathe, eat, or sleep.
Each of those are more specific than Outsider, and thus Elemental trumps Outsider where the info conflicts.
And, just a mention on how it works flavor wise- pretty well, actually.
The fact that elementals are stuck with simple weapon fits the simple fact that...well... they are fairly simple. Small ones have 4 int, and even elder elementals only have 10 (ie- "average"). That, combined with a somewhat insular culture (most races can't live where they do; fire and water have the obvious problems; earth and air go places most races cannot go), means they are not going to have a very developed weapon culture.
Also, there is their natural attacks, and the fact that many small elementals are animal like in form. Now, as far as natural attacks go...their one slam is somewhat nice. As a single natural attack, it does x1.5 str/power attack damage. But as they get large, they gain another slam, which reduces them both down to x1.
Luckily enough howver, elementals are often described as relying on human like forms when they are larger specimens. Thus, around the time their natural attacks start to suck, they gain the ability to use simple weapons, where they could use a club to get a similar effect to their old natural attack (as well as a proper iterative).
But, you really should take everything I say with an entire shaker of salt. I am just making things up based upon how they seem from my perception.