Why I like elves in general? Well, if not Tolkien's books, I wouldn't be now who I am. And I always loved Tolkien's Eldar - especially Noldor people, supernatural elves, based on Alfar from norse mythology. Masters of secret knowledge, powerful, wise, ancient. This is why I started loving elves.
Then came Pratchett and his "Lords and Ladies". Those elves were different. Still ancient (even prehistorical), but far less wise. Beautiful, but their beauty was tricky, and that wasn't "inner beauty" like in case of Tolkien's elves, but only an effect of charm. And they were "pagan" to the core. Their Queen was typical "Snow Queen" living in glacial palace and kidnapping human boys just for fun, and their King was a Horned God with huge... well, some personal part of the body. And with huge horns, of course. He and his elves was living under the big prehistoric barrow den. Barrow den shaped in form of big fallus visible from air. So, Pratchett's elves were pagan - and I love that.
So, what will born, if we would cross wise, highly civilisated and heroic Eldar with cruel, savage yet still charming Pratchett's Lords and Ladies, give to that even more pagan influences - ancient greek, celtic, and even native american - well, I think the effect would be the Night Elves. They are connection of everything I love in elves in popculture, and they lack everything that I hate. Plus they are looking awesome: above two meters tall, athletic people with long, pointed ears, dark skin, tattoed faces and glowing eyes. With sharp canine fangs, claw-alike fingernails. Their females are like Amazons hunting in the woods, almost invisible in the night because grace of their goddess allows them to hide in the shadows, and their males can grow huge beard, sometimes even horns on their heads, and they have powers over the nature - they also can turn into wild beasts, like bears, panthers, ravens. That is freaking awesome.
On the other side, there are High and Blood Elves, too. But for me, those cousins of thr Night Elves are still pretty similar to them in their character. Well, maybe Night Elves are based on powers of Nature, and Blood Elves prefer powers of Arcane - and they prefer flying city parts instead of buildings made of living tree - but their character is in fact similar. Both are sophisticated, xenophobic, arrogant assholes. And I love sophisticated, xenophobic and arrogant assholes, if they have a reason to feel that they are superior over other races. Elves, both types, for me - have that reason.
Also one of great and fascinating feature of Warcraft elves, is, that they are closely connected with trolls - another great and very unique Azeroth's race - and my second favourite race in whole Warcraft. But this time, ugly trolls don't came from beautiful elves but vice versa - elves are descendants of trolls. And that is great. Because sophisticated and civilised assholes certain about their superiority over other races are nothing but the children of savage cannibalistic tribesmen. Even elven beloved demigods are just renamed trollish loa, once being fed by bloody sacrifices. And that is really great, seeing blonde-haired, pretty High Elf ranger in silk cloak and soft, leather boots, fighting his golden ornamented sword against Aztec-inspired, scary, cannibalistic Amani troll with elven skull on the stick, and knowing, that they are in fact cousins. Far cousins, yes - but still related.