Hiya!
I read most of it, up until you started going on about Feats. IMHO, taking Feats into consideration as a "base line" is akin to saying "Looking at races, we need to consider players going into town to buy any specific magic item to give their character an edge". The concept of "buying magic items" is firmly in the hands of the DM and is not assumed...kinda like Feats. Obviously (or probably?) you aren't going to be looking at characters with Gloves of Thievery, Gauntlets of Ogre power, Ring of Flying, Cloak of Invisibility, etc.
So, IMHO, you shouldn't be considering Feats, Multiclassing or any other "optional" things as the baseline. Once you've looked at the game from the "true" baseline (pretty much the Basic Rules; so no Barbarians, Bards, Drow, etc) and have that down...then you can go into the non-Optional stuff in the PHB. And then you can go and add in the effects that using Feats may have, or allowing Multiclassing, or what effects certain 'powerful/versatile' magic items may have, etc.
Jumping straight into using Feats (and, I'm going to assume Multiclassing) destroys any sort of "objective balance theorizing" because you are starting with a tainted sample.
^_^
Paul L. Ming
Someone has already gone to the trouble to analyze the point costs of races and their features.
Do you have a link to this mysterious someone so we can compare it to Fireinthedust's work?
I hear this, and I think you're forgetting the difference between strategic value vs construction value.
Also I’m a designer, and if I want to see if I can convince DMs to let me play a given new class, race, or whatever, without them worrying that they’re too powerful or crazy. Well, powerful (yeah, yeah…)
"with over $700 Million in sales within the first month and weeks on the bestseller lists of all the major online vendors."
That's incredible, I didn't know the sales were so high.
Agree on dwarves, they are excellent in every edition.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.