I feel kind of guilty because I ended up cheesing The Elder that way. Died the first time, went back, and he ended up getting stuck behind three trees and just standing there while I pumped fire arrows into him.

That's actually my strategy for killing Trolls; run for gaps between trees and/or rocks that I can squeeze through, but the Troll has to go around. Gives me the breathing room I need to turn and take a well-placed arrow shot.

BTW I tried out a "barn door" shield, and it doesn't work for me. Movement penalty is huge. The defense from the bone tower shield is awesome, though.