This is a great idea. It always bothered me that elves/drow have god-like intelligence but never thought of wrapping some of their cloak around a mithril/iron key to use it. Also allow drow/elves to wield mithril/iron weapons if they have proper hand wear on. If I'm wearing thick steel gauntlets, do I have to worry about the iron touching my hand? Besides in the description of most iron/mithril weapons their hilt isn't made of that material.

That which does not kill us,
makes us stronger.