I think people spend too much time seeing cosmetic differences between races and not enough time on psychological differences. The first is easier because it comes with abilities but the psychology is far more interesting from a RP perspective.
Warhammer Fantasy Roleplay had an excellent set of essays about non-human psychology for elves and dwarves. The advice fundamentally changed the way I view these races.
Elves being functionally immortal in game terms would have totally different views on the shorter lived races, and a totally different approach to study, practice, social life, possibly even the value of life.
Dwarves also being extremely long lived, but also coming from below ground - and a place usually inhabited with things that want to kill them, would have fundamentally different ideas about permanence, honesty, making mistakes and work.