The White Ring... principal of the Three=? UT

[Legolas]

Morwen is quite correct about Tolkien's thoughts of the elves' tendencies:

But the Elves are not wholly good or in the right. Not so much because they had flirted with Sauron; as because with or without his assistance they were 'embalmers'. They wanted to have their cake and eat it: to live in the mortal historical Middle-earth because they had become fond of it (and perhaps because they there had the advantages of a superior caste), and so tried to stop its change and history, stop its growth, keep it as a pleasaunce, even largely a desert, where they could be 'artists' – and they were overburdened with sadness and nostalgic regret. In their way the Men of Gondor were similar: a withering people whose only 'hallows' were their tombs.

Galadriel's realm more so than Elrond's exhibits this.

Finwe stated:

and therefore, Nenya is also mightier.

What Tolkien states as fact ranks over readers' "opinions":

Elrond wore a mantle of grey and had a star upon his forehead, and a silver harp was in his hand, and upon his finger was a ring of gold with a great blue stone, Vilya, mightiest of the Three.