Once I finish reading and digesting it, I'll prolly lay a review down on RPG.net or something. I just got it yesterday and there's a fair bit o' info in there.
But, I can give a mini review from what I *have* looked at.
First, the rumors of the artwork are sadly true. Much of the artwork sucks; the yuan-ti picture in particular is about as enjoyable as sliding naked down a 20ft greased razorblade (A/D 6/15).
However, that aside, the book is chock full of..well...races. It has a lot of the racial subtypes ignored by the FRCS (artic dwarves, avarial elves, half-aquatic elves, grey orcs, etc.). It has about a bajillion and a half human ethnic groups, as well as a chart deliminating which regions have which ethnic groups in what percentages.
Most of the races gain some racial feats (the aasimars' in particular were cool), and all of the races are somehow expanded (if only by background info). There are about 80 or so racial feats in the book. Even some human ethnic groups gain "racial" feats. Among my favorites of the new feats are those that let you do a magical "tradition" of your race, such as a calim




e elementalist getting bonuses to a small list of fire or air elemental spells, or one feat that lets you add extra components to a spell to boost its' power, or the one that lets you replace material components with runestones...
There's a pretty healthy dose of new equipment, including some new weapons (and not all of 'em are exotic! Yay!!), a few new monsters, the oft-discussed 3.5 lycanthrope template, a scattering of new spells and some new prestige classes.
As far as PrCs go, you get, among others, the elven high mage (which needs the ELH) and the warrior skald (because the nordsmen just weren't enough like the vikings already..*sigh*).
You'll come away from the book with a greater understanding of the races' places in Faerun, a lot more of their history, a bunch of great ideas for characters and a slight nausea from the artwork. Nasty artwork aside, this is one helluva cool book.