I expected a small increase in damage coupled with a huge drop in weight, I lol'd when it was actually heavier than the sword I was carrying -- Now, I realize this isn't D&D and all but Elves make light [censored] ... that's their thing!
Also, elven daggers should weigh ounces not pounds. Ingots and ore, as well.
One more thing on this subject ...
So there's elf [censored] ... but who made it? It looks nothing like what wood elves or dark elves might craft. Don't tell me they were all apprentices under the same blacksmith.