The benchmark
Elite experience has to be FFED3D - that's the most advanced, most elite-ish game currently available. Pioneer comes a close second, but falls short due to the complete absence of fixed-beam CQB. FFED3D has it all - thrilling action, no barriers or limits or transitions, all the fun of real unfettered spaceflight, with realistic gravity and basic physics and celestial mechanics, and the most intense combat since classic Elite on the Beeb.
ED wouldn't even make it onto my list of elite-alikes - it would be on a separate list of 'lame & unfulfilling wannabes', alongside Oolite, the X series, Wing Commander and Freelancer etc. etc. ED just isn't very elite-ish, and certainly isn't capable of any of the kinds of gameplay i've always sought from the series. virtually zero experience of spaceflight, the only thing more pathetic than its 'spaceships' is its combat, or lack thereof, but which is probably just as well given the comical abilities of the so-called 'spaceships'..
So long as you're not a graphics snob, FFED3D really is the best, and most authentic game of
Elite you can play. Furthermore if you actually enjoy ED's excuse for 'combat', i'd definitely recommend giving Pioneer a closer look - since it's basically
proper Elite, just with ED's tedious and agonizingly drawn-out slow-pitching contests instead of Elite's more traditional high-intensity CQB.
But if you're seriously setting the bar at ED, then... yeah.. no, sorry - that's not really
Elite you're even playing there. More like the hideous offspring of X & Oolite with a few RPG / MP tropes thrown in.
ETA: some examples of gameplay vids:
https://www.youtube.com/channel/UCrny-ysVxM-DSn3mh-R9Sww/videos?sort=dd&view=0&shelf_id=0