Here is a proposal. Some of this is taken from the balance discussion we used to have a few years ago, some of it I am making up just now to see if it makes sense.
Humans
- 10% chance to deal 20% more damage on melee attacks
- +1 agi on hitrate
Half-Elves
- 10% chance to deal 10% more damage on melee attacks
- 10% chance to deal 10% more damage/effect on spells
Elves
- 10% chance to deal 20% more damage/effect on spells
- +1 on Agi Dodge
Saurians
- Natural +2 AC
- Infravision
Goblins
- Small Size
- Infravision
Dark Elf
- 10% Chance to inflict poison
- 10% Chance to absorb 20% of magic damage as MP
- 20% Chance of casting a spell with 50% of original mana cost
- +1 on Agi Hit Rate
- Infravision
Halflings
- +2 agi on dodge effect
- Small Size
Half-Orcs
- Poison Immunity
- Increased HP and Mana regeneration rate (6x)
Gnomes
- 10% chance to double a melee attack
- 10% chance to double cast selected spells
- Small size
Dwarves
- 10% chance to absorb incoming damage by 10%
- Poison Resistance
- +4 natural AC