So, this feature was not on my personal list of requests, but obviously it is/was on someone's given its persistent presence on AUGI wishlists (along with site tools*). I have to say, it will be nice to be able to create Elevation tags that are smaller, and will fit better into small interior spaces.
These new tags are pretty straight forward. You have to create a "body" which can hold as many pointers as you like. The pointers allow for the creation of elevation views. There are some limitations as you will see in the video, but overall the implementation is really good (and I wish it would come to section heads too). There is a new property for text and labels that controls the relative rotation of the text to the symbolic geometry. Lastly, the same problem that has plagued section heads, plagues elevation tags too, where masking regions will mask symbolic lines. Thus you either must create many separate masking regions to get all your required edges, or skip the masking regions, which can be a problem in complicated spaces or when floor patterns/finishes are visible in views. See the video for a fairly quick demonstration of the new feature(s).
* A brief note on Side tools, a bug in 2010 when a sloped pad was adjacent to a level pad resulted in a teeny tiny sliver of "site" extending up past both pads has reportedly been fixed in 2011.