Don't worry too much about race options yet.
What we showed at E3 was limited due to time constraints.
We recently redesigned our character system (from a technical/art standpoint) so that characters render faster on the client, and the artists took the opportunity to create awesome new armor and stuff. But there wasn't time before E3 to get the other races in, so we went to the show with Human, Ilvari and Burian.
The difference between those three races, technically, is the length of a few bones and the overall shape of the mesh. Suwari though, have a different skeleton, completely different animations, and fur rather than skin. Morphing between Suwari and Humans would be a much bigger challenge, and the results might be hideous.
Which isn't to say we might not *try* it -- but I don't see us compromising the look of purebred Suwari to make it feasible.
As for the gameplay effects of race: interpolating between "NPC Bob can relate to you" and "NPC Bob fears and distrusts you", or between "5% penalty to stealth" and "5% bonus to stealth" is *easy*. So I'm not sure why people would think morphing implies no gameplay difference between races.
If anything, the "look the way you want" design philosophy might have already decided that all races are on an equal footing as far as stats go... I honestly don't know, I just write code
