No, I don't want my players to optimize class/race combinations to receive the best boni. I want them to play the character they have in mind. I don't want every wizard to be an elf, and I don't want to be every multiclass character to be a half-elf.
If there are only 4 characters in a party they need to at least be effective at what they do. In 3.5 a half-orc wizard or sorcerer was almost unheard of, it just wasn't effective and it wasted a party member slot. In pathfinder I would play this without worrying about being the anchor, the leech, etc. I thought 3.5 was much worse about shoehorning classes to certain races with the specific favored class especially if they had any plans of multiclassing or taking a dip in another class.