when fielding them what profiles can i use? can i use the battle of the five armys and hobbit elrond as well and either the lady of light or war aspect or do i have to use the free people ones?

count them as different character with different warbands. The "free people" warband (all the old profiles) and the Hobbit warband, if you want the new profiles.
BOTFA Elrond can only be in the same warband with the BOTFA Galadriel, not the "war aspect" one. Of course, you may choose to field members from both "White Councils", but not in the same warband.

They're in the same army, so they can all be in one warband.

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