For those that have used both.  Is there a big difference with the Legend Elite over the Legend Tournament or is it just very minor?   

It's sort of apples to oranges at the moment as the Elites have all the classic tapers/powers and the ltb (victory too) has the newer tapers/powers when St Croix revamped a couple years back.  The sensitivity might be very slightly better, but the Elites "feel better" in the hand last time I played with them.

I have 3 elites and 1 current gen legend tournament and I agree with the above.  Elites are probably a bit more sensitive/lighter due to the torzite guides and supposedly highest grade blank.  My lone legend tournament I use for jerkbaits(6'8" MXF) so don't really test it's sensitivity much.  My elites I use a bit more often and really like them especially the 6'10" MXF.

For me (spinning) models in the LT series are more comfortable. The elite rods are a little more sensitive and light but have very uncomfortable locking nuts and seats in my opinion. If they update the elites soon to a similar grip that might change it for me. The new LT rods are a home run. I have both casting and spinning on the rod rack.