I've gigged with a Warwick Gnome ipro (not a TE Elf but I'm pretty sure it's just a rebranded version), with an Ampeg 4x10, in a very loud heavy metal band.
Both guitarists were using JCM800s through 4x12s and I was the one who had to turn down. The Elf will be fine, if you need more volume, buy more speakers.