Yes, there's typically only one way to get a "Gold" victory, but Gold victories are not required. It's more of a matter of pride and perfection than anything.
Elven Legacy, for me, is an okay game. As others have said, it's more of a fantasy chess game than a real strategy game. You're presented with a scenario, and must develop a strategy to complete that scenario in the given number of turns. It's not an open-ended strategy game like Master of Magic or Age of Wonders.
If you like that design concept, I will say the game is really well done. I'm more into open-ended strategy titles like the ones I mentioned, which is why the game didn't quite do it for me.