I still don't understand your point.
A typical Noldor should be more powerful than a typical Hobbit, right? If your point is that this means they'll never be balanced, I guess I have ask why you're using the term "balanced". That's like saying Gandalf isn't balanced against Samwise. One is more powerful than the other, but it isn't an issue of game balance.
Game balance, as I said before, is about being equally powerful at the same level or for the same cost; it's about the game, not the game world. You want a 5th-level Fighter and 5th-level Wizard to feel just as useful in an adventure. You want a 5th-level Human and a 5th-level Dwarf to feel just as useful in an adventure. You don't want the Knights of Gondor and the Hobbits of Hobbiton to feel like equals, or the Noldor and the Wild Men to feel like equals any more than you want Sauron and Gimli to feel like equals.
My very simple point is that D&D has a mechanic for races (and another mechanic, templates, that can be used for races), and you don't need to make a strong Noldor race (or template) to make the Noldor of your game world powerful. If a typical Noldor is an Expert 5/Sorcerer 5, it doesn't matter that his racial stats are those of a normal elf. He's vastly powerful without the need for a convoluted ECL-5 race.