The racial isn't bad considering it's off GCD, and you can use it when you have a lot of damage incoming. Life Tap when festergut does his huge aoe and you risk dieing, especially in Hc mode. Or you could pop the racial and get 6% mana while still being able to cast.
And also Blood Elves should be Alliance, purely because of lore. In WC3 Humans could create Blood Elf Dragonhawk riders, and the Alliance helped them more than the Horde did.