How many in Battle of 5 Armies?

[Gwathagor]

All things being equal, if the battle consisted only of hand-to-hand combat between the elves and the dwarves, the dwarves would undoubtedly win. However, I think the key advantage of crack-shot archers would give the elves the upper hand because of the long, open distance the dwarves would have to cover before reaching the elven army. The casualties inflicted by the elven archers upon the slow dwarves would only exaggerate the already existing differences in numbers between the two armies. In the ensuing hand-to-hand combat, I'm sure the dwarves would inflict very heavy casualties, but at that point the elves would be able to overwhelm the dwarves simply by virtue of having, by that point, more than twice as many soldiers as the dwarves. The dwarves would be surrounded and then overrun.

I emphasize again that the elves would doubtless incur very heavy casualties during the close combat phase.