I think he still has something to offer. People talk about his pace, or lack off. However, he has never had pace!!!
The reason why he looks vunerable is that he isn't playing in a back 3! In a back 4, he gets caught out for pace very easily. However, Elliott looks best in a back 3 with a bit of pace either side of him - Frank on the right, and Thatch on the left would be an ideal combination.
IMO I still think he is a very decent player. He reads the game well, very good aerially, and passes the ball excellently too.