Lords and Ladies of the Rings

[Legolas]

I think he meant Gandalf wielding it; at the least withholding it from Sauron. He would have to use it though, at some point if he were to become the Ring Lord as speculated.

About the Sindar vs. Noldor:

They are called the Sindar, the Grey-elves of starlit Beleriand; and although they were Moriquendi, under the lordship of Thingol and the teaching of Melian they became the fairest and the most wise and skilful of all the Elves of Middle-earth.

The quote you're speaking of actually says the Noldor were great, and more importantly, the Sindar were the only kindred to become almost great as they were:

In those days Elves and Men were of like stature and strength of body, but the Elves had greater wisdom, and skill, and beauty; and those who had dwelt in Valinor and looked upon the Powers as much surpassed the Dark Elves in these things as they in turn surpassed the people of mortal race. Only to the realm of Doriath, whose queen Melian was of the kindred of Valar, did the Sindar come near to match the Calaquendi of the Blessed Realm.