Shaun, the quest to go from human to elf is very easy. With a tamer, you would also find the elf to human quest quite manageable. You can do the quests multiple times.
If you plan to do a lot of hunting to build up your gold supply and don't plan to tame cu sidhe or to do tons of peerless hunts, I recommend you leave the character human for the ability to carry more weight. Something else you might care about is what your headpiece looks like as a human versus as an elf if you're using the 2D client. I believe in KR there is no difference in how headpieces look on human or elf characters.