The answer would depend of the game setting and the tone of the campaign. I like most sort of elves, except for the Lawful stupidevil melnibonean/2e faerunian kind (aka Gold elves depicted in so many rulebooks).
Voted other. From D&D as written, Eberron elves of all flavors. Otherwise, I would like the racial stats for d20 elves to more closely reflect the fluff concerning them. PHB elves show no stats that reflect any extra proficiency to magic.