My predictions are based off what I saw with the recent changes.
Avian
-30% Attack Times
-15% attack gains
Town Watch, Vermin, Mystic Aura
Elite: 6/3, 650gc, 5.25NW
Dark Elf (Merger of Faery and Elf)
Can use credits to raze buildings
+1 mana/tick during war
-50% runes needed for spells
-10% birth rate
Access to All Racial Spells
Elite: 3/6, 750gc, 6NW
Orc
Earns Elite Credits
-50% Dragon Effectiveness (Fixed as first prediction would have been too OP)
-50% Combat Instant Spell Damage and Duration
Bloodlust, Fanaticism, Reflect Magic
Elite: 7/2, 900gc, 6NW
Hobbit (Merger between Dwarf and Halfling)
+20% BE
+1 stealth/tick during war
-50% Thief Costs
+25% Food Consumption
Fanaticism, Aggression, Invisibility
Soldiers 2/2; Elite: 5/4, 700gc, 5NW
Humans
+15% Science Effectiveness
+25% Sabotage Damage
+25% Instant Spell Damage
+1 offense specialist
Tree of Gold, Fountain of Knowledge, War Spoils
Elite: 4/5, 725gc, 4NW
Undead
+10% Population
Converts some Specialists to Elites on Attacks
-75% Food required
+1 defense specialist
-50% Sabotage Damage
Greater Protection, Town Watch, Chastity, Clearsight
Elite: 7/1, 800gc, 5.75NW
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Merchant
+25% Income
-50% Money Losses on Plunder Attacks
Gain 25% more Specialist and Building Credits
Mystic
Access to Meteor Showers
All Guilds and Towers are twice as effective
+30% Spell Duration (For Duration Spells Only)
+30% WPA
Rogue
+40% TPA
Access to all thievery operations, including 3 unique to rogues: Greater Arson, Assassinate Wizards and Propaganda
Thieves Dens are twice as effective (subject to DBE)
Sage
+20% Science effectiveness
-20% cost of science
-60% Losses on Learn Attacks
Warrior
+15% OME (permanent)
+20% Gains
Enhanced Conquest range
Tactician
-25% Attack Time
Immune to Ambush
Accurate Espionage (permanent)
Cleric
-60% Your Military Casualties (on attack or defense)
+1 General
War Hero
+25% honor gains
-50% train time
-50% draft costs
Reawaken 50% Casualties