Will Ferrell's Elf edged out Russell Crowe's Master and Commander: The Far Side of the World to claim top honors at the weekend box office. In its second week of release, Elf climbed to No. 1 with $27.2 million off just 12 percent from its impressive debut. The well-reviewed Master and Commander came in a close second with $25.7 million, slightly above expectations. The same can't be said for The Matrix Revolutions (No. 3 with $16.3 million), which plummeted 66 percent from its disappointing opening. Also excreting flop sweat: Looney Tunes: Back in Action, which debuted at No. 5 with $9.5 million. Note to Brendan Fraser: Why?