Either way is fine with me. I certainly wouldn't mind true elf models but I honestly think it is subject to interpretation.
What is a true elf model ? The models in the OP are the artistic proposition of an artist who had been working for 5 year long with wotc, twenty years ago. Nothing more, nothing canon. It's also worth mentionning he worked a lot in the science fiction area. I think that Larian options are as valid as any other, whether people like it or not is another debate. Btw, in the OP, the BG2 portraits certainly do not represent all elves in that game, the best example being the queen Ellesime. Even Jaheira (half-elf) was very different in the first BG game.