I kind of liked the take DOS2 had on elves. It was something very different, something unique. Something definatly not done before as far as I know and clearly not Tolkien-ish elves. It worked in the custom setting they created. Rule of Cool is a thing to play with in your own custom setting because it is your own custom setting.
But elves (or Tel'Quessir if you will) in Forgotten Realms are already established and regardless of what sort of elves someone might prefer... their lore as well as image and appearance. To just make them look human with pointy ears is kind of doing a discredit to elves as they are established. Rule of Cool does not really work with this, as it can just clash with lore and immersion.