The problem with this theory is that Stargate uses earth mythology, and Elves as you describe here are an invention of Tolkien.
Elves in mythology were the messangers of the Norse gods, and not powerful of themselves. It would not seem to fit the way that Stargate is using the mythology, as for the Furlings to be one of the four great races, it would seem likely that if they had come into contact with earth it would be independently of the Asgard.
Elves in mythology were the messangers of the Norse gods, and not powerful of themselves. It would not seem to fit the way that Stargate is using the mythology, as for the Furlings to be one of the four great races, it would seem likely that if they had come into contact with earth it would be independently of the Asgard.
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