In addition to what you said:
Shadowmeld
In dungeons: Imagine if someone has pulled too many mobs for the tank to handle, which leads to a party wipe and you are the one remaining. Instead of commiting suicide, you can go to a safe spot, hit Shadowmeld and resurrect your teammates from a safe distance. In raids, sometimes I didn't pay attention to my threat. If the boss was chasing me, I used the aforementioned ability and waited, till the tank regained his aggro.
Bonus for NEs:
1% hit from a draenei (if there's a such toon in the same party group) -> this helps the player stack desired stats
So, night elves have a lot of things going for them. However, if I decide to play on Frostmourne again, I would definitely play on the side of the Horde. Fantasy-wise, that faction is way more interesting (let's be real for a moment - humans, dwarfs, and gnomes look pretty much alike), but the biggest reason why I would consider going there is because most of the pve maniacs play there. Last season, I was looking for a good guild on the Alliance's side, and there weren't that many to choose from. Most of them had already filled their spots, and they weren't looking for new recruits. I might be mistaken, but I have heard that <Knuckles Deep> switched to Horde at one point during ToC. Now, even <Casual> is doing that, which goes to show where people's preferences actually lie. In other words, if OP is a pve maniac, he/she could consider where the majority of pve enthusiasts are heading towards.