As far as Totem selection goes:

Air: 3-4 Grounding, with 1 Wrath of Air completely optional. Extra Grounding totems never hurt.

Fire: Flame-tongue x4 I prefer simplicity, and the damage from Searing totem or magma totem will rarely be what finishes someone off. I also prefer to be able to cast Fire Nova at will without having to change totems, and FT totem has the longest Duration.

Earth: 2-3 Tremor ,1-2 Earthbind; Once again with the simplicity thing, I focus less on totems and more on other things, so if you don't want to stagger Tremor totems, it's not really necessary, just drop all your Grounding and Earth totems together every once in a while in combat to refresh them. More Tremors can still serve as protection for when someone kills one.

Water: Completely a toss up here, all based on preference. Ele shaman mana at 80 is beyond a joke, so the Mana spring totem is not needed yet, but that might change, and you will be providing Raid members with mana, so it might be worthwhile to have 1 up. Some form of resistance is a must, however I really don't like the glyph for Healing Stream totem to make it fill that role. As far as Healing Stream totem goes, you will end up with alteast 1 up regardless, but keep in mind that it's healing will not win or lose fights in Wrath, and with the changes to healing in Cata, I don't expect it to later either.