@ Rico I'm failing sure ELF came from AT&T Summit, not Sun.
@ Steve Johnson were you the manager when was created or were you folks still using COFF?
Anyway... There were issues with COFF WRT being architecture-independent and supporting dynamic loading well. Steve Rago would also be a good person to ask if you want some of the details. At one point there was a COFF2 document, but it may have been System Vx licenses only. Also, one of the issues was that AT&T had officially tied up COFF as a proprietary format -- all part of the 'consider it standard' trying to force their lunch down all the other UNIX systems throat which was not having it. As a result, CMU's MachO was about to become the default format (OSF and Apple were already using it for that reason), and Unix International stepped in and convinced AT&T to released the ELF documents (I was on the UI technical board at that point). I'm not sure how/why OSF decided to back off, maybe because after ELF became public it got supported by GCC.
Now my memory is a little hazy... I think OSF/1-386 used MachO originally, but I've forgotten. Switching the kernel to use ELF was one of the differences between OSF1 and Tru64 IIRC.