Racial-wise they're not that bad (apart from +5% int being a total waste for warriors). It's their ugliness and annoyance that really gets me though. EA is very good for PvP, but for PvE (DPS) I'd say humans are slightly better due to +expertise. For PvE (tanking) Dwarves and NE's are really good due to stone form and +dodge.
In the end racial traits do no matter that much, and you should probably just make a char that you're comfortable with.