Collector Series Book Five presents new options for Elves. The book includes new character options, prestige classes, feats, skills, and spells. It also adds new subraces of elves and some background on elves. It is drawn more from the Lord of the Rings version of elves than from the SRD.
It also offers new magic items and equipment tailored to help make your Elf more versatile.
There are also sections with archetypes and role-playing tips and suggestions to make your Wizard more interesting.
Because some of the subraces and prestige classes use flying mounts, there is a chapter on aerial combat.