If I might weigh in, I personally turn most to the codex over fluff because, seeing as how the codex is the primary source of info for a given race, it is most likely to be correct IMO. Anyways, the necron codex says the necrontyr were crazy advanced scientifically. They build up some amazing society, but they had short lifespans (of course that's all relative, because the eldar... perhaps the necrontyr had a more... humanlike lifespan...). The ctan came and promised them immortality, they went along with it, but the ctan never mentioned they would lose their souls, etc. BTW the necron Immortals are described as the first to join the ctan and their favored servents.
Some speculation-perhaps the Eldar are the remnants of the Necrontyr, the ones that didn't go along with the ctan. If that's the case then perhaps there reason they are enemies it the whole, "destroy non-believers" thing, like the ctan ordered the Necron against the Eldar or whatever. Also, maybe the reason the humans have lost so much technology (assuming everyhing said before this to be true), is because this dragon guy won't help them anymore, after all he is their prisoner.
The fall would perhaps be when the Ctan came and made the necron/etc. Either 1-that's the fall of the race anyways, or 2- the remaining necrontyr went through the whole exploding sun- disaster (i think that's what it was) and that was the fall. Maybe the reason the eldar all live on craftworlds is becase they can't go onto other planets because the Necron would sense them.