of mithril and of elven-glass

with shining prow; no shaven oar

nor sail she bore on silver mast:

the Silmaril as lantern light

and banner bright with living flame

to gleam thereon by Elbereth

herself was set, who thither came

and wings immortal made for him,

So is she a sail-less ship with a Silmaril on the silver mast-top, and Earendil flitting around it on wings?  Or does Vingilot have a sail (ALL art of Vingilot shows at least one sail) and Earendil wingless standing on the foredeck with a Silmaril upon his brow (but possibly Elwing flitting around on wings) ?

Is this Bilbo getting things wrong again?   ( I'm visualising Elrond being quietly amused, both at Bilbo, and also at Aragorn suffering agonies of Mortal Embarrassment on Bilbo's behalf, while Bilbo is quite oblivious.)