Have ye then no hope?

[davem]

And yet, if:

Trust (estel): It is not defeated by the ways of the world, for it does not come from experience, but from 'our nature and first being'.

is correct, & estel has its basis in 'our nature and first being', then if Elves have the capacity for estel, isn't that some kind of 'guarantee' of their ultimate happiness, in that they are not separate from Arda. If Arda is renewed (as opposed to destroyed & replaced by something else) then they too must also be renewed. If Arda was replaced by something else in which they were to have no part, then they would not have the experience of estel, as the ultimate hope from which it arises would not be related to the world of which they are a part.

In other words, there must be some reason for the Elves estel which relates to them as beings in this world.

Unless I'm completely wrong (I'm only just managing to follow my own reasoning here!)