I really didn't like the conversion of the gnome from 2nd to 3rd edition. A gnome is a nerd that you should fear and it's hillarious that when they become able to be full wizard's they are nerfed from the favorite class and changed to of all things bard.
Gnomes for me are covered into the following archtypes
1. evil little men who do horrid things and skulk in the dark of the night.
2. nature spirits who hang out in the woods and smoke cheap drugs.
3. earth elemental like beings (as in the alchemical tradition)
4. nerds of magic and technology that are to be feared.
5. tricksters
Maybe it's the color text, but the 3rd edition gnome bugs the heck out of me. they sorta filled in 1 (whisper gnomes), 2(forest gnomes) and 3 (svirneblin), but the standard rock gnome doesn't do it for me (even thought it roughly fits 5). In my opinion the arcane gnome should have been the default and wizard should have been the preferred class. The elf should have been switched to sorceror as preferred class to reflect their innate force of magic. It also plays nicely off their antipathy of kobolds (who have a preferred class of sorceror).
There is this one gnome article in dragon magazine that I wish they would have cribbed from for races of stone for the gnome section. It would have made them more suitable to what I think a gnome should be.
perhaps holding them for a later book will allow greater development and make them awesome.
btw loved the phrase: tinker style, goggle wearing, full metal alchemists.. It really summed it up as a whole.