As I've said in other threads, I'd be disappointed in their addition. There's already two playable Elf races, more than any other race. I'd be cool with High Elves as an additional customizable skin or something (same goes for Dark Iron and Wild Hammer Dwarves, etc) but instead of an actual NEW race? Not so much. I'll never understand wanting more of the same.
Elves are overrated. Give us some reptiles, insectoids, and avians to play. Ooh, and Ethereals!