I really can't think much about it, mainly because I feel this already has been answered by some of us in the race racial abilities discussions in some ways.
Strengths; Idk, Speed. Agility. Longer lives. Good eyes. Skilled for all magic "good" and "evil", (they were infernal demons), there's a different between natural talent and intellect and I think Elves should have natural talent for magic, but not superior intellect, they just live longer, so they can learn more because of this, that doesn't makes them more intelligent than other races, they just have more knowledge. Nature affinity.
Weaknesses: Dependency of Elvyn magic to stay as Elves. Arrogance. Easy to corrupt if their bond to Elvyn is cut. Low natality, Classists. Idk.
The dependency of Elvyn's magic as a weakness is pretty cool, I can surely see some good stories to be made of a very important High Elf being tricked by the Domination to break his bond with the Moon Goddess and corrupt.