Just to clarify before anyone brings it up, yes I am including pig-people in the orc circle.
This is not constrained to one game / piece of fiction so don't try to use your experience that is exclusive to one piece to make your arguments.

Clearly anyone who picks orcs are wrong.

Well I wouldn't want to face an elf in combat either.
You need to weigh the positives and negatives of both, life is all about balance and compromise.

Lord of the Rings Elves > Lord of the Rings Orcs in every imaginable way, so yeah; Elves.

Lizardmen

Or Tomb Kings, depending on the mood.

I am going to guess you picked orcs then, is that correct?

Ufff, I don't know that much about WHFB's elves or orcs. If we're talking about 40k, then I'd choose the orKs, more fun to play as them.

Elves are like unnaturally agile, better sense's (sight/smell/hearing) , slightly stronger than humans, with more magic, while being immortal and haveing forever to practis their skills (in most books & series).  They also have near immunities to certain magics, and can see in the dark (forgotten realms / Baldurs gate).

Army of elves > army of orcs.

What's the question though? Who would I rather marry? A elf! Who would I rather have by my side in a pub crawl? A Orc.

What would you rather be.
What do you find to be definitively better.
What ... ect.

Definitively better at what though? Savagely killing humans? An Orc! Making me a sandwich and washing the pots? Probably an Elf. Who would I rather be? Probably an Elf!!!