Arkaj

Kevin, your mana curve is a plateau.

*cough* cough* inferior to mine *cough*cough*

Nissa Revane and Nissa's Chosen! The Best cards for an elf Tribal.

The Elixir has killed my mill deck so many times...

You know, Supreme Verdict, Wrath of God, Black Sun's Zenith, etc. are all popular cards.....

Because of the few cards like Elvish Champion: Other Elves gain +1/+1.

This is like Slivers.... With elves....
Mind=Blown

Twenty lands seems a little low.... I'd say at least 24.

Alright, if you're playing mono-blue modern, I'd suggest Sands of Delirium, for mill, and if you want draw, I'd suggest Rhystic Study and Blue Sun's Zenith. To be honest, I think this deck would be better if you splashed black or white, or better yet, both.

If I were you, I'd kill Dreadwaters and Tome Scour, and replace them with Dream Twist and Breaking//Entering. Or a Glimpse the Unthinkable, if you can afford it.

Oh, and if you play esper, you have access to lots more win conditions, like Nephalia Drownyard.
Now you are limited to Stormtide Leviathan, and maybe Aetherling.

I think your problem, is that in the first couple of terms, you won't get the spells you need to deal with your opponents, and you will get killed by a creature that slips into your defenses.

I don't think that mono-blue will work, lot's of tournaments are won with esper, (blue, black, and white) control decks though, you can go to these links to look at some good decklists.
http://sales.starcitygames.com//deckdatabase/displaydeck.php?DeckID=55653
http://sales.starcitygames.com//deckdatabase/displaydeck.php?DeckID=55654

Well, unless you are milling them, that won't happen very often, about 40% of the time with this deck. If you have Stormtide Leviathan, you can have something to win the other 60% percent.

Again, if you buy this deck, remember the troll face card sleeves.

True, this would go great with some troll face card sleeves.

The problem with psychic spiral, is unless you're playing against a mill deck, you will only mill them about ten cards, twenty at the most. And that's not a win condition.

I think you should kill index, and add divination for some real draw.
Or add Rhystic Study, it might not be standard, but it would win you games.

Have you been trolled by blue decks too much?

Add some Stormtide Leviathans, so you can actually win.