Niiice.
They aren't kidding when they said they were making race important. If we take the Elf as a template, than most races are going to offer a hefty attribute adjustment, a free encounter power, synergenic bonuses for everything from movement to skill checks, and access to a whole tree of racial feats.
The Racial Feat seems a little weak, but it might not be too bad. It's availible at low levels, it boosts a power you'll probably use once every fight anyways, and your base attack bonus does scale pretty slowly. (1/2 level).