yeah, i have heard about people having issues with elixirs. i don't seem to though.
i have some xx brakes (which i think are just fancy elixirs) on my xc race bike. i got the bike shop to install them a few years ago. other than a brake pad change, i haven't touched them since, and haven't had any problems. for that kind of bike, i do not find the power/modulation lacking, always seeming to have enough stopping power for my near-80kg with 160mm rotors.
having said that, over the last 2-3yrs, i have very rarely gone in any xc races, so the bike doesn't get used much.
maybe when i go to get the fluid replaced (it is pretty old and has probably absorbed some water), i better make sure i get someone who knows what they are doing to do it.
when i was off the bike(s) for a period of time (injury), my other bike with xtr brakes seemed to struggle in storage. with the bike just sitting there, the pads seemed to get contaminated. after i got back on the bike, i put up with it for a while, until i finally listened to my mates' advice (2 of them had their xt's do the same thing) and replaced the pads. other than that issue, i'd say the shimano brakes pretty much rule (power/modulation).