What Elven Agility provides, how speed is related? Is it only to reach a camp and return speed? If yes, try to change it, as it has very little value. May be adding more regeneration to Elves (over the existing 50%) will make players like them more.
Sometimes speed can be useful, especially if you also have any speed artifacts like the Bow of Swiftness. However, I agree that most of the time it is not important. There are several abilities that could be reworked to help give a better balance to the 4 races. Currently undead is the favourite for most folks when aiming for a victory in part due to their necromancy ability.