A quick memo, weaker races this age imo are avian/halfling followed by dwarf. Halfling has a role but making it better wouldn't break it, avian is terrible in general. Dwarf is the weakest pure attacker, can function but is worst then elf as a/m or orc/undead as a pure attacker. These are my thoughts anyway.
Avian:
-25% attack time
+175% birth rates
+30% thievery damage
+25% losses
7/3 - 600gc
Town watch, invisibility, mystic aura, vermin.
Dwarf:
+ 20% Building Efficiency
Free Building Construction
Can use credits to raze buildings
+ 30% Spell Damage (Instant Spells)
+50% Food Consumption
Can't use Accelerated Construction
Elite: 7/4, 800gc, 6.5NW
Quick Feet, Fanaticism, Fools Gold, Clearsight
Elves (unchanged):
1 Mana Recovery / Tick in war
+ 50% WPA
+ 1 defence specialist strength
Elite: 6/4, 700gc, 6NW
Pitfalls, Mages Fury, Amnesia, Nightmare
Faery:
+30% magic effectiveness
+30% thievery effectiveness
3/7 def spec (7nw, 900gc)
Penalty:
+25% wages
All offensive spells, Quick feet, invisibility, mages fury.
Halfling
+50% TPA
+1 stealth
- 50% thief cost
-25% pop growth
Town watch, reflect magic.
6/6 elite 6.0 nw 600gc.
Humans (unchanged):
+10% Population
+ 50% Sabotage damage
+ 50% Spell Damage (Instant Spells)
+ 1 Offense specialist strength
no penalty
Elite: 5/5, 500gc, 5NW
Tree of Gold, Fountain of Knowledge, War Spoils
Orc (loses reflect magic):
+ 20% Gains
Earns Elite Credits
-75% Combat Instant Spell Damage and Duration
-75% Sabotage Damage
Bloodlust, Fanaticism, Aggression
Elite: 9/2, 850gc, 7.25NW
Undead: (unchanged)
-50% Offensive losses on attacks you make
Converts some Specialists into Elites on successful land attacks
Spreads and is Immune to The Plague
No Food Required
- 25% science effectiveness
Greater Protection, Town Watch, Animate Dead, Chastity
Elite: 9/3, 1000gc, 7.5NW