I would put an elevator that is part of the required means of egress on the emergency branch. If it is not part of the required means of egress, but is an owner preference to have an elevator on generator power I would put that on the optional standby branch.
I make the following distinction between articles 700 and 701 in my mind. If it is required to help people get out of the building, it is on the emergency branch. If it helps the fire fighters do their jobs or controls smoke, it is on the legally required branch.