Either way is fine with me. I certainly wouldn't mind true elf models but I honestly think it is subject to interpretation.
They say elves are beautiful, but beauty is not the same for all. Some, myself included, do not think that a lot of the true elf images are beautiful at all. I also didn't think Aerie was beautiful, and I didn't really like her character. I liked Jaheira, but she looked to me like a human with pointy ears.
I've also seen drow images both as pointy eared dark skinned people and true drow portraits, and I always preferred the more human looking images.
But, on the other hand, variety is good. Elves looking like humans with pointy ears makes them not as diverse and special. They're just humans with pointy ears. nothing more. It might be more interesting to have true elven models so people can really see the differences between the two. I mean, it is sad that if you choose the wrong hairstyle that covers the ears, you can't even tell if you chose to be a human or elf.