Well with legolas, he can only have wood elves or galadhrim in his warband, so if you want him leading troops they would have to be wood elves or galadhrim. High elves have good defence values but at a cost of troops. Usually they can only manage 2 warbands in 500pts which is a maximum of 24 soldiers and two heroes. A low model count that can be easily outnumbered. Having said that their soldiers are fantastic as well as their heroes. I have no experience with erestor ,though he seems quite good, having said that Glirfindel is a total tank!! Able to cleave his way through a large number of orcs. My personal favorite high elf hero is Gil-Galad, he is the only elf able to reach def 8. And an amazing profile.
Comparing high elves to galadhrim is...kind of hard. High elves have higher defence and higher points cost with powerful heroes. While galadhrim are slightly cheaper with good mid range heroes. A note about the galadhrim/wood elves is that in their list they have 5 troop choices, as opposed to 1 troop choice in the high elf list.
Warriors of the last alliance are high elves.
Between galadhrim and high elves, both have their advantages but ide say that at lower points cost the galadhrim are better(but I might be biased
) but at higher points cost they even out.