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No race is the single best. They all have advantages. First, let it be said that STARTING STATS DO NOT MATTER. Don't pick a Night Elf over a Dwarf because of the difference in starting agility. A Night Elf with 650 agility would have around 643 as a Dwarf. Big deal.
As far as racial attributes go...
Night Elves can go unseen with Shadowmeld, which is useful to hide from an enemy.
Dwarves can cleanse poisons using Stone Form, and are slightly better at using guns.
Draenei have a Heal over time, and increase their party members chance to hit by 1%.
Tauren have extra HP, and can War Stomp to stun targets in close range to help them get back to range.
Orcs have pets that do increased damage, and a minor damage boost every few minutes.
Trolls have a bonus to using bows/thrown weapons, can give themselves a small haste effect every few minutes, and have increased damage against beasts.
Blood Elfs can drain mana from their opponent and then silence nearby opponents to return mana.
All together racial attributes are not that important as you can see. Not one of those is a real must have, so don't chose a race because of their abilities if you can't stand the looks.
The sticky is there for a reason. It answers most questions. I like BE, or Tauren, or Orc, or Troll the best though.