I would agree, plus add that Elrond didn't want more power - he had all he
needed - so the Ring wouldn't tempt him.
Elrond also knew that the Ring couldn't stay in Rivendell, or really anywhere
in Middle Earth. To keep the Ring, Elrond would invite the destruction of
Rivendell, because Sauron would figure out that the Ring was hidden there and
send all his armies to capture it.
Elrond, Gandalf and Aragorn were alone in being able to see past the immediate
temptation of the Ring and understand that the short-term victory they could
achieve by using the Ring would lead to ultimate
defeat.
******************************************************
Then with a crash came a great ringing shout: ra-hoom-rah! The trees quivered and bent as if a gust had struck them. There was another pause, and then a marching music began like solemn drums, and above the rolling beats and booms there welled voices singing high and strong.
We come, we come with roll of drum: ta-runda runda runda rom!
