I have won over 3/4 of my tournament games and an even higher rate outside of tournaments with my high elves.
Things that make them rock in looks
1) poses of bows (who look way better than wood elf bowmen high fiving) and spears (who look rock hard)
2) poses of heroes (gilgalad, glorfindel, twins, arwen, gildor, erestor)
3) Rivendell knights
4) Banners look really cool
In game terms
1) probably the best all hero army outside the white council n fellbeasts
2) Rivendell knights - best cavalry ever
3) Kings guard F6, neutralises spider queens, beats nearly all the heroes of evil and around 2/3 of the heroes of good
4) People dont put enough terrain down. Therefore elite armies struggle. if you read the book and note the 1/3 of the table should be scenary, and make sure some is trees then high elves can anchor on some woodland. Have it's heroes flank THROUGH the woodland using woodland creature and then you murder your opponent.
6) Most evil heroes who epic strike vs the HE heroes will only beat them 50% of the time. In the case of mounted gilgalad... very rarely does he ever need to epic strike thus has more might to create 6's or wounds or charges. While the opponent is trying to might every thing.
7) Erestor suddenly gaining TERROR
Loads of might, so you are not tying anyone up for long
Disapointments
1) Banners are over priced. The premium paint for F5 is then neutered by having a banner in your hand and not having many people to protect it.
2) Stormcaller not having wrath any more...but new players can still find him useful
3) No shield n sword model
As with most things SBG. If you just do a shield wall and expect them to win you are a terrible misguided with how to win a game.
I may make some photos of different tactics you can use at some point but then I dont want to give too much away lol