My thoughts? I really like these: It's something I wish they'd done with 3E, rather than "front-loading" several of the races. Personally, I like Monte Cook's "Race Levels" better, but this is a great compromise.
Reading that Bragon Breath part, I'll still never used to perfectly square breath weapons, though... :\
With how they keep specifying that what are shown in this except are Heroic Tier racial feats, I wonder if there are going to be Paragon and Epic Tier racial feats as well.
I like that you can be more dwarfy than other dwarves (e.g.) by taking more racial feats. That's a nice touch and gives another dimension to character concepts. You want to play a through and through -insert race-, you can mechanically represent that above and beyond other examples of your race.
I like the fact that Group Insight is a half-elf racial feat, not a half-elf racial power. That way I can not take it.
Generally, separating the peripheral racial abilities into optional modules like this is a good design, I think. If you don't want to be a dwarf with an axe or hammer, you can trade that ability in for something you do want. (But I have a feeling most dwarven fighters will be using axes and hammers - +2 damage is pretty boss.)
Those damage bonus/proficiency feats for Dwarves and Eladrin look nice. And Humans look to be getting a few useful abilities. Tieflings not so much, but what's the bet they get wings and such?