I'm rather late in replying to your post, but while the connection to the main line has been severed, I believe that most of the track from Alves to Burghead is still intact.
The link to the Burghead Maltings was cut a few years ago, although I was living away from the area at the time and I don't know exactly when it happened. The station building was gutted by fire and the bridge demolished. There's now a playpark where the station building used to be. The track was cut back to the edge of Roseisle Forest, but I haven't been over that way in a good while. I've just bought myself a bike so I'll be exploring soon.
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The images above show the views from a crossing in Roseisle Forest. The first one is looking south towards Roseisle Maltings and Alves Junction and the second is looking north towards Burghead. While the trackbed looks reasonably clear then, bear in mind that the photographs were taken back in 2007 (when the main line connection was still in place, I think). I thought I had some more recent photos which would have shown how much more overgrown the line has become, but unfortunately I cannot seem to find them. The white blob in the foreground of the second photo was about a year old at the time and she is sadly no longer with us.