I'm of a mixed mind. Feats were the thing that made your race matter past character creation; one of 4e's stated design goals (in Races & Classes) was to do this.
OTOH option bloat blech, so much so that in my homebrew version of D&D I have completely dropped feats in favor of other mechanisms.
Same here.
I liked the original vision, which was that races that could have been scary, esp. if they were designed according to 2e/3e lines (Thri-Kreen, Dragonborn) instead got nerfed, so that if you wanted to expand a defining aspect of that race (multiple limbs, breath weapons) you used feats.
But at the same time, I didn't like the fact that I'd end up compromising my ability to make my build power-functionally competitive with other characters of my own class because I didn't take certain class feats.
I mean it feels like a waste of a feat to put 'riders' onto a racial power when you can add more functionality to your base class.
Currently, I'm playing a Tiefling Psion and I've deliberately avoided getting Clever Tail and Bloodhunter stuff. Why? They just make my character do cute and useful things that are fundamentally situational.
I feel like I get more from MCing into Wizard, which allowed me to save a class skill slot for another skill and get the Arcana Training for free, making me more skillful, and allowing me to develop a robust 'scholar' fluff/flavor for my character.
Also, feats like Imperious Majesty allow me to substitute a weak stat with a strong one in determining my Initiative and let me slap atk roll penalties in addition to my debuffs as a controller.
In other words, I think feats should target race or class, provide benefits that have useful intersections between two, but as captainspud noted, should never have a requirement of both.
What makes me choose a feat is one which allows me to apply one of my race-class strengths to a NEW situation, rather than add bonuses to SPECIFIC situation.