Elves as a species are perhaps the least exotic and innately powerful of fey creatures. However, like humans, they are still at the top of the proverbial food chain in their respective worlds, and have the potential to far outstrip brutishly powerful trolls or magically gifted hags given enough time and practice. Virtually every elf is either a noble lord that rules over a fiefdom, is in the immediate nuclear family of a lord, or is a vassal of a lord.
An elven lord is more than just a title, however. These are elves that have lived so long as to dwarf the abilities of archmages and Masters of the Craft. Their very words can utterly compel their subjects to do as they are told, without any active effort on the part of the lord. It is actually more difficult for an elven lord to give orders that can be disobeyed. They must often word their decrees carefully, loaded with escape clauses and exceptions, so as to not compromise their minions’ effectiveness with too rigid a command.
The elves have achieved such a mastery of magic that they no longer need serfs, as the forests and mountains either provide all that they needed or can be magically coerced into doing so. Because of this unlimited adaptability, the ultimate goal of the Eldritch Crusades to wipe out capricious fey was impossible. To this day, powerful elven lords still lurk in the forests, consolidating power and ever plotting.