Snow quality is great...usually much better than Blue. Much less ice and hardpack. Great terrain as well.
Elk's lifts may be slow, but the high speed lifts at Blue don't matter when there are 1000 people in line and you have to wait 15-20 minutes to get on a chair. Elk is usually not too crowded (not nearly as crowded as Blue on a weekend). I've done 28 runs on a weekend day at Elk...couldn't imagine doing that with Blue's weekend crowds.
I love Blue, but Elk is much better. If you're going up for a full day of skiing, you're best bet is to drive the extra 80 minutes to Elk.