Not really. Because Elves in Oerth aren't the same as elves in Krynn, Eberron, Athas, or Ravenloft. So if I read in the PHB how elves worship Correllon and then decide make an elf cleric of Corellon, he's not going to be playable in Krynn (which has its own strict pantheon), Eberron (ditto, and...