In terms of power gaming? Eh. Tough call. Elves have a general bent toward spellcasting so you're not looking at a big rift from one school to another. To put it another way: it's six of one, half-dozen of the other.
But I'd pick Divination and drop Enchantment. You get a bonus to resist Enchantment spells, so it isn't like you're lowering your defenses. And Divination is useful for scrying - which you'll be doing a lot of at high levels. If you wanted to cast evocation spells all day long, you should be looking at sorceror and picking divniation means you'll have a lot of the "tools of the trade" memorized.
... of course, with 3.5 right around the corner, who knows what will be useful in the long run?