This post from the Land of Nod blog gave me an idea regarding magic circles. In it he states that the elves made the dwarves construct magic circles for them to harness the energies of the world for better/easier manipulation.
This got me to thinking about my own world. I figure that as deep-dwelling masons and metalsmiths, the dwarves would be naturally gifted in earth and fire magics. Where the dwarves are stalwart and compact, elves are lithe and fluid. Thus the feyfolk's natural talents are in water and air.
Therefore I believe that dwarves would construct magic circles, carved in their angular runes - because it's easier to chisel straight lines in stone, than curves. Dwarf runes are harsh, straightforward, and to the point.
The elves would take a "more natural" approach and bend green trees into enchanted groves, letting them intertwine over time. Elven script is looping and flowing like a stream or a breeze - wafting and winding, drawn out and contemplative.
The dwarves are viewed as more manipulative and prone to take immediate (sometimes rash) action; whereas the elves are more delicate and natural and like to consider (sometimes too long) before moving forward. Elves are thinkers, dwarves are thunkers.
That's not to say that dwarves couldn't build you a stone circle with runes to imbue stronger water magic, nor would it be impossible for the elves to plant and grow a stand of trees the enhance fire magics. Both would certainly increase a mere human's abilites to draw magic from the natural world, but each is directly counter intuitive to the elements working in harmony. So if you want hefty and hearty, go with dwarf construction. If you want ethereal and airy, elves are the way to go.