Quote from Kelvas;1266555:
The thing about magic spells (minis firebolt, which does) and alchemy is that max damage doesn't get multiplied with anything, so 1~100 more damage is basically unnoticeable.

With alchemy thats 100% true. But with magic spells, bfo gets multiplied with stacks. Something like that:
(BFO dmg bonus * Spell dmg constant) * Stack number = BFO end dmg bonus

Firebolt has a relative high dmg constant and multiplied by 5 makes a noticeable difference. Hail on the other hand has 0 ? So no difference at all. I bet lightning rod also has a dmg constant of 0.

Quote from Kelvas;1266555:

Human magic => elf magic > giant magic
if you factor in BFO with max dmg potential.
Could you explain please?

Quote from Oberynn;1266909:

Also, elves are 1.32x speed and I wouldn't joke either, it's a hella useful trait.

Elves also got the invisible skill.

If devcat decides to lift/increase the caps, elves got the best int/mana potential (with humans only LITTLE bit behind tho). Due to int/mana per level, base stat, from skills/talents and trans.
Falcons magic missile(with wand) even has the potential to become an useable magic skill when devcat fixes it (so NEVAH).