I wouldn't say that, Glorfindel, Elrond, Cirdan, Galadriel, Celeborn, Thranduil Ellodan, and Ellohir were all very powerful elves that lived during the Third Age. I don't think that the power of elves diminishes with time, it is just that by the time of the Third Age most of the very powerful elves resided in Valinor.
[ March 07, 2002: Message edited by: Thingol ]
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Yet the lies that Melkor, the mighty and accursed, Morgoth Bauglir, the Power of Terror and of Hate, sowed in the hearts of Elves and Men are a seed that does not die and cannot be destroyed; and ever and anon it sprouts anew, and will bear dark fruit even unto the latest days.
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