Could I just point out a few critical errors that I think most of you are making.
The original Lodoss War RPG was founded off the original D&D (not AD&D or 3ed or 3.5ed). Now that said can anyone remember the classes/races back then? That is right - Fighter, Cleric, Thief, Wizard and one other (for Humans) and then there were Dwarves (pretty much just a fighter) and elves (who were basically a fighter/mage (though not as good a fighter or mage as a human would be singularly).
Going off this information (plus the Fuzion Conversion RPG) elves are actually fighter/mages and just, because of their affinity to nature, cast spells using different verbal components and gestures (possibly even material components). So even though their magic might seem like elemental magic, it isn't. It is more Druidic (under current core rules).
As for the movement of Elves, I think you will probably find that the creators of the RPG made a few stylised changes to make it different from D&D. Then again, has anyone thought about magical items? Now, I don't remember anyone gaining a magic item in the OAV (except Pahn with the Holy Sword of Valis), but that doesn't mean that Deedlit didn't have a Cloak and Boots of Elvenkind or a ring of blink, levitate, fly, or whatever. And the Dark Elf at the start of the OAV might have had similar items (but, because of being created by a different culture, might work the same but have different visual representations)..