As many times as this question has been asked, it will receive as many answers from me. There are alot of really good choices, using existing world models already. The game is already very deep with lore, so none would need to be created.
I think whatever the new race would/should be, that it should be evil, by nature. We have Dark Elf, Troll, iksar, and Ogre that are evil by design. But then you have human, gnome, erudite, drakkin, and erudite that depending on class, can go to the darkside. BTW, half-elfs can worship Inny now?
I have always liked the idea of Orc being a playable race. There are orc in many zones through the lands, and with the new graphic for them, they look cool. Honestly, I have never met a female orc. I assume they are like dwarves and its hard to tell unless you look closely. Hometown could be somewhere along the "orc highway" as the old schoolers will remember well. By chance, it might get people back to a few of the older zones...even with the new graphics. But really, the hometown could be anywhere.
I also like the vampire idea. It would be very cool to have a vampire necromancer or shadowknight. THe graphic for them would be of the vampire guys that were previously running around zones awhile back.
And like the orc, the kobold would be very intense as well. LOL it would be interesting to see a kobold toon in the mines of gloomingdeep. Heck, they could turn the mines into the hometown..lol
BUt then again...how about another race that is based of an animal. I mentioned kobolds already, but I am thinking like a rat-man species. Is there not a rat-man character in eq2 already? We also need a race that is based of an animal, but less humanoid. Yes we have the vahshir, but vah shir are very "humanoid" when you come down to it.