Here is a list, which, IMHO, can pull of a good elephant strategy:- (Assuming you don't have RoR)
Persia - Very obvious. Fast elephants.
Phoenicians - Cheaper elephants.
Sumerians - This might seem like a wierd choice, since they don't get any bonuses for their elephants, but their double farm production is nothing to laugh at. If you decide to farm early (which, really, you shouldn't, unless you are in the middle of a forest with not much food source nearby), you'd have sufficient food to crank out elephants from 10 stables at a time. Sumerians are also good since they get the Chainmail upgrade.
And never forget to back elephants up with something else, and bring some Priests to heal them.
I've never really tried elephant strategies before, so I might, to an extent, be wrong. Comments welcomed - although constructive criticism though, please.
Heck... who can beat a
Mithril Colossus Hoplite like I am one now...?
Besides, Zeus agreed to help me, and Athena to love me...