Quarter settled first on scones, not wafers (they want the cream on top) (8)
I believe the answer is:
'they want the cream on top' is the definition.
(people who only want the very best or cream)
'quarter settled first on scones' is the wordplay.
'quarter' becomes 'e'.
'settled' becomes 'lit' (I've seen this in another clue).
'first on scones' becomes 'ists' (I am not sure about this - if you are sure you should believe this answer much more).
'not wafers' is the link.
This may not be right. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for elitists that I've seen before include "favour the best?" , "The believe in rule by those with superior intellect etc." , "Select group" .)