You can't cast even Truesight using MP. You can't cast Farseeing if you don't have the tech. Elves probably have a greater MP generation rate. MP giving elves an easier way to sell their magic. Already they are selling out spells if they are communicating. The whole point of MP was to make it easier for people who wants to trade spells.
And about the current i2gold, see who is buying all iron from the market @ almost all rates. I guess you just don't know how an elf can make use of that spell in its current design.
Elves might need some buff. But, i don't think that is on the magic side.
