Realistically--if they are going to go this route, this is the only sane way to do this--even if it is boring. Otherwise, it's a million and one pre-defined race/linage/species mix templates; or a min/max fest of picking characteristics from both. Race as become less and less mechanically important in D&D over the years (a long way from race as class in BMCMI), and the mechanical complexity generated by social issues around race just isn't worth the fuss.