Have you ever actually read Lord of the Rings???
I don't think anyone would argue that the fellowship members are paragons of their respective races, so lets review, shall we?
In book II, chapter VI ( Lothlorien ) of The Fellowship of the Ring, we see the companions being lead across the river Celebrant. The elves used a single rope line to cross the river. Of the companions, only Legolas possessed the balance and agility to do this.
He also walked on snow during the snowstorm in the pass. Something NONE of the other companions including Gandalf could do. Yes, he is agile that doesn't mean is is agile in Full Plate.
During the chase of the orcs holding Pippen and Merry hostage, it was Gimli that asked for rest, and Legolas that urged for pushing onwards. When Aragorn made the call to rest for the night, Gimli went straight to sleep, while Legolas stayed awake fretful that they had made a mistake by stopping, and when the Dwarf was roused, set off again without slowing in the slightest.
Elves also never fall sick or die of old age, does this mean they should have a Con bonus?
There are too many examples to cite one of the superiority of elven eyesight.
What would this even have to do with the arguement about dexterity bonus in armor?
So...by these three examples alone, elves are more balanced and agile, have more endurance, and can see far better than dwarves.
Legolas is MUCH more agile and Gimil, he also doesn't wear heavy armor like Gimli does, in fact he wears basically clothing. I guess that would mean that he doesn't get a bonus to the Max Dex limitation on armor and so chose to go with clothes to get his full Dex bonus to AC. That sure doesn't support your argument of Elves being better suited to having that enhancement.
Sure you only want to use Tolkien for "lore"?
Anyone who's ever read the players handbook knows that elves receive martial training ( longswords, rapiers, and bows ) from birth. They also know that human nobles often seek elven masters to teach swordsmanship to their children, and that elves consider swordplay fascinating. They are however, far more likely to rely on speed and agility ( vs. the dwarves tendency to rely on brute str. and toughness ) to win fights.
Correct, again, what is your point? That they make great prestige class candidates for things like Swashbucklers? Dwarves gain martial training from birth as well, so much more that their favored Class is FIGHTER while an Elf's favorite class is Wizard. So basically Dwarves having a martial favored class means they have even MORE training from birth than you pointed out for elves, right?