The wizard in the 3.5 Realms campaign I run is a Wizard (Enchanter) 11, and most of the party is elves, more or less:
Elf (Moon)/Half-Dragon, Druid (Rillithane Ralthiel)
Elf (Sun), Wizard (Enchanter)
Elf (Wild), Fighter/Order of the Bow Initiate
Half-Elf Monk
Half-Elf Fighter/Bard/Harper Agent
Human Cleric (Selune)/Ranger
Human Paladin (Ilmater)/Purple Dragon Knight
So there is plenty of Elven blood in my group, not for any power reason (well, the Sun Elf Enchanter was because they get an Int bonus), but that's what they wanted to play.