Well, there certainly is a feeling of surplus. I mean, every player and their mother rolled a Blood Elf when BC came out so servers got overpopulated with them.
Thing to remember, however, is that many won't ever make it past level 20-30, much less 40. A few were talented enough or powerleveled to reach the high levels in a few days/week and the rest who are willing enough but less skilled will take yet another while before they reach 60-70.
If you want to make a dedicated BE Holy Pally, there's no problem. I wouldn't dare compare the amounts of Horde Pallies versus *Hunters* and, IMHO, Pallies have far more utility than your basic pew pew pew.
EDIT: Well, I did the absurd and used
WoW Census to check out my server to know how many Blood Elves we have, how many Pallies we have, how many reached level 70 and how many 70's of other classes we have.
Of course, not all servers are like this. At least, I would think so.
Server: Drak'thul, PvP. Horde side.
Total Horde population: 9245
Total of Blood Elves: 2582 (Ugh... that's even more than the Undead)
Total of level 70's: 1725
Total of BE Pallies: 889
Total of level 70 BE's: 134
Total of level 70 BE Pallies: 71
So, that's more than half of the Blood Elves level 70 BUT it's like 4.12% of the 70's population. So 1 Pally for every 25 players. Not quite enough.
Server: Drak'thul, PvP. Horde side.
Total of level 70's: 1725 In order of most to fewest:
-285 Warriors
-223 Priests
-222 Mages
-209 Rogues
-204 Shammies
-189 Warlocks
-174 Hunters
-148 Druids
-71 Pallies (Which is half of the second rarest class at 70)
So Blood Elves are flooding all servers, but most are low levels stuck in the 20's and 30's so don't get discouraged by that if you wanna make one. Level up and people will know you've got the dedication and skills to succeed.
Edited, Apr 26th 2007 3:37pm by Selverein