The current Elantra may not match the Civic for handling or performance, but it is close in refinement and quality. Long-term reliability is somewhat of a question mark, but Elantra will likely still be more reliable over the long term than a Detroit 3 competitor. I know quite a few owners of 2001 and newer Elantras who love their cars because they have been surprisingly more reliable than they expected.
Although it will be several years yet, I have considered an Elantra Touring wagon for my next car... unless Honda decides to resurrect the Civic wagon (the Fit is too small for my liking).