I believe that they would have time to get to the Havens. If Sauron conquered Minas Tirith, he would still need to "attack" the rest of Eriador before he could claim his dominance. This is why he makes such grand demands when the Captains of the West parle with the Mouth of Sauron. Without the ring, Sauron's takeover would take a considerable amount of time. With the ring, it would happen swiftly; but not instantaneously. There would be a short window of opportunity for the elves to make it to the Havens. For the years prior to the WotR, Elves had been leaving ME by the boatload. We can therefore assume that there was a fleet prepared already to bring them back. I don't know if there is any proof for this assumption, but that's how I always thought. In fact, the only proof that I do have from the books is indirect and not very solid. Several times JRRT mentions that all outcomes of the WotR would be wrought with woe for Elrond (ie Sauron is destroyed he looses Arwen and fades, Sauron conquers ME he must flee from/abandon his home). I think, in an indirect way, justifies my opinions above. If anyone knows about other sources, I would love to hear them. I'm not very knowledgable on the HoME series, so perhaps more clues lie there.
Cheers,
Mungo
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Yet the lies that Melkor...sowed in the hearts of Elves and Men are a seed that does not die and connot be destroyed, and ever and annon it sprouts anew, and will bear dark fruit unto the latest days.
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