My first and main toon is a hunter and I love it! The play style is easy to learn but difficult to master. Even though I'm almost lvl 80 I still feel that I have much more to learn to be an accomplished hunter. Definitely read the FAQs and the forums to learn more about the class.
As for which race to play, I'd recommend either a dwarf or a night elf on the alliance side because each has a racial ability (guns for dwarves, shadowmeld for NEs) that is helpful for a hunter. I can't speak to best races on the horde side. That being said, play whatever race appeals to you the most in terms of appearance, lore, or starting area. You're potentially going to be spending a lot of time with your new toon, and the racial abilities are not all that important if you can't stand looking at the character you've created.
Edited, Dec 5th 2008 12:50pm by katluvr