I think that in each version of the game people like to play with all the toys. While that's true, when making characters my group generally decide on a concept for the character before selecting anything else. Then we look for classes and rules that fit that concept, if possible. Last we make sure that they aren't too overpowered.
The last character I played was a Half-Elf/Centaur Druid/Shifter. I know this sounds a bit cheesy, but here's the concept we came up with: In the game there was a race of shapeshifters from elven decent, primarily evil. One of those who was neutral managed to escape from the group and found a grove of Centaurs, where he took their form and settled in. Soon, he found a wife, and had a child. But before he was born (that child being my character) the group found him and killed him, along with most of the Centaurs. So I drifted into the Human lands, using my limited shapeshifing powers (I was a low level Shifter) to blend in while I sought revenge.
The problem was that a Centaur by itself was too powerful when we created the character, so we mixed in Elf blood with the intention of diluting the Centaur stats and powers. Basically I was an Elf with an extra +1 to Wis and +1 to STR, and no Dex bonus. Oh, and I was Large. And in the beginning I couldn't take Human form. That sucked for quite a while. Nasty devices like ladders and walls were my mortal foes. Anyway, it all worked out, and we had a good time. I did enjoy playing a character that was outside the norm.