What I believe is that the reason the Elves look forward to the End of Days so much is not only for the complete destruction of Morgoth, but for their freedom. They had always envied Men, because their fëar were not bound to Arda, as the Elves' were. After the Dagor Dagorath, and the Destruction of Arda, I believe that the Elves' fëar would be freed from Arda, and join the fëar of Edain, in whatever Halls they walk, and there spend the rest of eternity in each others' company.
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But Melkor also was there, and he came to the house of Fëanor, and there he slew Finwë King of the Noldor before his doors, and spilled the first blood in the Blessed Realm; for Finwë alone had not fled from the horror of the Dark.
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