Clever, clever, clever, clever. I can really imagine this...

I've always been amused by the idea of Agent Elrond, so this was a nice bit to read.

The author's notes at the top start dragging after a while. Get rid of about 3/4 of them, as the majority of your readers aren't going to be from your circle of friends, so they'll want to get right to the story.

Mechanically, it needs work with punctuation.

The characters aren't too developed, but this is a short piece, and a parody, so the readers are likely going to be coming in with an idea of the characters already, so you should be okay.