Like I said, if you want to shut off Elspeth, try
http://magiccards.info/4e/en/94.html. It's broken. But anyway, some other things:
Elspeth is a 1-3-of, 1-of quite often, actually.
DoJ is still played, a lot. I checked around a few random Deckcheck lists, and it sees as much play as Elspeth, so saying it's gone is just silly.
Crucible of Worlds + Factory was played in every deck.
Recurring EE is also a "win-con," and handles Eplague anyway.
It's not like you even make them resign if you stop the soldier-generating ability on Elspeth. You're Merfolk, it's easier to just beat Elspeth down with Islandwalk. And at any rate, I wouldn't sideboard a card to stop 1 of my opponent's cards.
So assuming that you've given up on thinking it'll help against Zoo (killing Grim Lavamancers at the cost of having to board out Adepts (a great card against Zoo and Cursecatchers), we have: