Just as an aside, the Faeries concept is actually quite terrifying once you think of faeries as discarnate entities that are shaped by human imaginings, but that stand independent of them. I'd recommend Hilary Evan's books Visions, Apparitions, Alien Visitors. Wellingborough, Northampton, England: Aquarian Press, 1984. and Gods, Spirits, Cosmic Guardians. Wellingborough, Northampton: Aquarian Press, 1987 for a first rate parapsychological exploration of the theme, and especially this book amazon.co.uk/Daimonic-Realit ... 590&sr=1-1 Daimonic Reality by Patrrick Harpur. The latter in particular is quite frightening as non-fiction exploration of how the subconscious can create or provide form to utterly bizarre manifestations, and VERY close to ROP: Faeries. It's just Harpur and Evans postulate something like this could be happening in our world, not Mythic Europe.
I struggled with Faeries in the 5th ed version, being very attached to John Snead's vision of them in earlier editions, until I suddenly realized they were like the High Strangeness (in the technical sense) UFO and poltergeist cases I am called upon to investigate from time to time. Think of faeries like this, as a terrifying irruption of something quite alien cloaked in local legends and stories, and playing out manipulative psychological games aimed at getting people to do things. They attempt to force humans in to transformations and roles far outside their comfort zones for no purpose discernible to the victim, as part of the faeries larger story/game, but with bizarre and to us pointless motives --- and they "feed" off it.
Then suddenly the whole book becomes beautifully clear -- it is a deeply sinister take on the whole faerie theme, much much darker. Of course faeries can appear lovely -- but the new take on the game reality underlying them is really as frightening amoral and eerie as anything I have read in the line, or any game book.
Or to put it another way, take UFO stories, especially the weird and abduction ones, Sasquatch sightings, frog falls, weird coincidences, alien contactee accounts, lake monsters, and any other odd Fortean occurrence, and imagine how it could be framed as part of a story set in the Middle Ages, and imagine something is playing the role for its own purpose that has no compassion, no human point of contact, and no real meaning that we can understand. It just wants ot get you involved, play you, make you do things you would not normally do, and force you in to its agenda. Then I think you see faeries as the authors envisaged them. I'm not saying it would make for fun rpg all the time - but the faerie can be vanquished, and lose interest in you, or so you can hope. House Merinita become either naive, or terrifying as well...