Ok, I'm an expert vs. High Elves, I've been playing against them almost weekly since the almost 5th edition days.
RBT's are the most over-powered damn war machine on the face of the planet. Hitting on 3's with 6 Str 4 armor piercing shots, for a 100 points?! And that magic is gross, I'll agree any day on that. Firstly, if he's using Teclis, I'd suggest, as expensive as he may be, taking Lord Kroak, or just wait until the new edition arrives. Archmages and 3 mages can hold of almost all Lizardmen magic, but Teclis is just murder.
As for the RBT's, my suggest would be two units of terradons to get there quickly and kill them. Remember the Bane of all Elves is Salamanders! Krox's do a nice job of tearing up DP's and SH's so long as they don't get charge, so remember to use Skinks to screen your army and try to lure a charge if you can. Also remember HE's don't have special barding anymore, so their cav is slower then the may have thought.
Really the only two HE things that are beyond paniful to kill are Pheonix Guard and Star Dragons. Star Dragons can only be killed by magic....period...unless your opponent is dumb enough to let a Carnosaur charge him. As for large targets, don't take them. With the exception of Slann and Krox, my entire army is skirmishers when I fight HE's. Also bring Chameleons, they're great for march blocking his cav or killing bolt thrower crews/mages/archers. I'd also suggest a JSoD, cause you have a good chance of getting him close to Teclis, and he can kill Teclis. With Kroak, it'd be easy, make sure you have Steed of Shadows, position JSoD where he can see Teclis, and use that as your last spell.
Funny enough, Saurus, counting as Rare via spawnings with Skinks filling up Core pop, can hold off Swordmasters rather easy with I'd say Quetzl and if your opponent never charges, Sotek spawning. Temple Guard with Slann, if built correctly, are near invincible. Afraid of fear-causers/shooting? Spend too many points and give Slann Fear banner and 5+ Ward Save Plaque.
In the end, they're a tricky and sly bunch, best of luck.
-Dalkarius