Currently, the poll on the Darkfall forums indicates that the population breakdown will be:

17.82% Alfar
10.77% Dwarves
25.00% Humans
24.33% Mahirim
13.23% Mirdain
8.84% Orks


This means a breakdown of:
1. Alfar 17.82%
2. Mahrim/Orcs 33.17%
3. Humans/Elves/Dwarves 49%


Now I'm not sure what the special racial abilities are, so I can't judge on that, but it's obvious that the Alfar will have the most opportunity for combat. I'd also like to mention that I don't believe there's anyway for KGB to reasonably select Alfar with our current good-aligned outlook (Alfar are evil to the core). Personally, though, I'm cool with any race besides the werewolves. In the immortal words of G.I. Jane, "I'm just here to blow shit up."