The Elves (Arda) reference article from the English Wikipedia on 24-Jul-2004
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Elves (Arda)

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The Elves are one of the fictional races that appear in the work of J. R. R. Tolkien. Their complex history is described in full only in The Silmarillion, and it is mentioned tangentially in The Lord of the Rings. Elves were the first inhabitants of Middle-earth who were able to speak. They are sometimes called the Firstborn (as opposed to Men, the Afterborn). The Elves named themselves Quendi (the Speakers), in honor of the fact that, when they were created, they were the only living things able to speak. (This name is no accident — Tolkien was a linguist.) Oromë called them Eldar (Star People) because they were born under the stars, but the name is generally considered to exclude the Avari.

Elves are described as the fairest of all creatures in Middle-earth, lovers of art (particularly songs, which they sing in beautiful voices). Many Elves are also stronger than Men and have far sharper senses. Especially the Noldorin Elves possess skills and knowledge which to Men appear to be "magic." Their memories and dreams are as vivid as real life.

Tolkien's Elves were a representation of what human beings might have become, had they not committed the original sin. While this made them mostly morally just (no Elves willingly joined Morgoth or Sauron, the Enemies, although they could be deceived and for example Maeglin betrayed Gondolin to save his life), as well as invulnerable to diseases and they could recover from wounds which would kill a Man, it also made them less able than the mortal Men to adjust to an otherwise fallen, ever-changing world.

It should be noted that Tolkien's Elves differ greatly from Elfs of older folklore, as well as most modern fantasy Elves: for example the now clichéd special affinity with nature and bows, as well as explicit references to "pointy ears", are not to be found in Tolkien's writings. His Elves were very much human, if Unfallen.

In the First Age, the stories mostly deal with Elves, and Men only appear in the later stories. Elves are here in their youth, and are powerful enough to actually challenge Melkor Morgoth, a being of angelic might. After the end of the First Age the Elves of Middle-earth are still powerful enough to hold off Sauron, and create Rings of Power which can actually slow down time. However, by the Third Age (the time of The Lord of the Rings), the importance of Elves in affairs of the world is diminishing, and only a few of them are left in the refuges of Rivendell, Lothlórien, and the Mirkwood. Many of them can be seen walking west, towards the elf havens, to leave Middle-earth forever, and those who stay in the meanwhile know that it is their fate to "diminish and go West". Therefore few of them are to remain in Middle-earth after the end of the Fourth Age, and those that do remain behind are doomed to "fade".

Some important Elves:

Half-elven: See also: Awakening of the Elves, Sundering of the Elves, Elvish language