Off the island and back to your Swiss banks!
Gnomes are completely unnecessary. They combine features of dwarves, elves, and halflings, without a distinctive niche of their own. When they're gone I'm going to vote out the half-breed races, for similar reasons. The four core races without which D&D just wouldn't have the D&D flavour will then go to the wire. Maybe I'm biased for having gotten my start with Basic. Or maybe I'm biased from loving Tolkien too much when I was a kid. Or maybe it's just that Tolkien was smart enough to realize that if you want to represent the unification of all the good races in the face of a big enough evil, you put elves, dwarves, humans and halflings together in common cause. The rest are just for people who get bored without endless variations.