>bumped from page 11>>78895342>How is an Elf, with a physiology capable of immortalityA lot of elves aren't immortal, certainly not the ones we tend to play in traditional games.
>and forgoing sleep entirelyPretty much only a D&D thing, not even Tolkien elves never slept.
So you are conflating Tolkien elves with D&D elves, meaning you end up with a confused mess of different elves settings, their strengths and their weaknesses. Tolkien elves don't need to be balanced for mechanical reasons, while elves we tend to play need to be to some degree, unless you play a system where pretty much everyone is an elf.
So, what will it be? Elves need to have some sort of disadvantage. I'm not a fan of giving them less strength, certainly don't make them less agile, because that's the primary elf trait for rpg's, not a fan of making them dumber or less charismatic (although that could work with dumb barbarian elves, like the stronger wild elves from some D&D editions). So you pretty much just have Constitution as an option.
That said, that's is how that specific game handles these things. Have you tried not playing D&D? My system of choice is WHFRP, in which elves are pretty much better in many stats, but they lack faith and resilience points (that can mean they end up bleeding to death more often), with no other glaring weaknesses. My personal system only knows bonuses in certain areas, no weakness, so nothing stopping you from playing a buff, muscular elf warrior.
I understand your issue, but you going at it from the wrong angle.