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Yes but the Council of Elrond was an extraordinary event. To decide what to do with the One Ring. It affected every race in ME.
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Yes, but the elven rulers(?) have been dealing with the presence of Sauron for eons, even after his "defeat" during the War of the Last Alliance. That was the main job of Elrond, Galadriel, and later, Gandalf. To use the power of the Three Rings, in concert, to "preserve all things unstained".
I don't think they bothered themselves too much with petty border disputes, idle proclamations, and padding the treasury with taxes.