On the subject of S3, T3.....
It's not the downer in Warhammer that it is in 40k. It's the benchmark!
High Elves are noted for the overall effiency of their units. For instance, if I have 20 Empire Spearman, bog standard, I get three ranks of attacks. High Elves? All 20 get to attack thanks to Martial Prowess, and thanks to Speed of Asuryan, most of the time those attacks will be re-rolling to hit! At a mere 9 points a pop they can do serious damage.