You should really think about the type of game you wanna play. Wood elves are a bit out dated, and they are not getting a codex anytime soon. At least there are no rumors of one in the works or on the way.
When you think about the game do you want a small elite army? Cool big monster force? lots of robin hood type archers? Heavy armor with big beat sticks and poor conversational skills?
Basically, without prior knowledge of the game I would go with the style of play you think you would enjoy. If you have no idea look for a practice game with someone to show you how to play with just a simple army and based on that see which army you think would appeal to you more. If you want to play wood elves go nuts, they are fun there is just a lot of FAQ and errata to add to the codex since they haven't been given a new codex about 2 full editions (maybe more I forget how the time-line goes).
Side not in the Wood vs High battle, Wood elves get Treemen (cool) High elves get heroes spell casters that can ride dragons (cool, except when you have to deal with them as opponents. Dragons are only fun when you field them ;p )