Great topic! Some people say that the element/direction correlation isn't as important as making a heartfelt connection with each element.
The Vaastu system I learned is NE water, SE fire, SW earth, NW air. Face northish while working and have the head towards the southish while sleeping. I forget how the other systems order things.
I've heard it said that the 4 pillars of spiritual growth are: internal cultivation, love for others, sense of service, and harmony with the 4 elements where you are only as strong as your weakest department.
I've heard it said in a Hindu context that even the greatest avatar is just a peanut if he/she is out of whack with the elements. As guests within their kingdom, even God has to play by their rules.