anyone who played from vanilla (like my old orc warlock) got like, 25 rep/quest turn in with their factions. 2.0 upped it dramatically to like 250 for most quests, 350-500 for others (specifically at the end of some long-ish quest chains or kind of a "zone complete" quest result). So yeah, while I struggled to get past honored with everybody on my orc warlock from vanilla, the paladin I made right when TBC launched, and the shaman I made after I got bored of my paladin both hit exalted pretty easily. Blood elves in particular should hit exalted if they do all the hellfire peninsula quests + all their own race's quests in other zones. It's actually a little tougher to hit exalted after 2.3 when they reduced the 20-60 leveling times dramatically, but again, going back and doing the starting zones of other races when you have your epic land mount makes it really easy to get like 5k-6k rep with that race.
edit: before I forget, alliance also has it easier because they're friendly with all races by default. undead/blood elves are friendly with each other in horde and the tri-horde (tauren/trolls/orcs) are friendly with each other, but they're neutral with the other races. So like blood elves will be neutral with orcs/trolls/tauren and orcs will be neutral with undead/blood elves to start.