I'm lazy so excuse the formatting.
RacesDwarfStill one of the best races. Strong vs spells and poisons. Darkvision. Not slowed down by medium or heavy armor. Too bad I like my characters to more mobile.
ElfGreat wizards, ok rogues and rangers.
GnomeSmall. I still don't see why anyone would play one over a halfling.
HalflingSmall but good at what it does. Great for sneaky or talky characters.
Half ElfOMG, they fixed the half elf. Bonus to perception, free Skill Focus feat, two favoured classes, and a bonus to any one stat. I would actually play a half elf now.
Half OrcUnfortunately still kinda sucks. A bonus to Intimidate and darkvision. That's pretty much it.
HumanI always thought the human was pretty good before and aside from the extra +2 to any stat which is shared with the other two half human races they got nothing new. Still a very solid choice.
ClassesBardUndecided on the bard. I thought they sucked before but with better casting and being able to maintain bardic music as a free action I think they have hope now. Maybe Derobane will try one out for us.
BarbarianGiven more options but not made much stronger. Probably made more fun to play but I don't see him being more effective in combat (I would argue the Barbarian was the best melee fighter before)
ClericAll of the clerics melee spells have been nerfed severely and with no divine metamagic equivalent they are no longer uber front liners. They are even better healers then before but that job gets boring pretty quick.
DruidAnother nerf bat victim. Wildshape is now more for utility than combat unless you severely hamstring your casting abilities. I do like what they've done with the animal companions however.
FighterThe fighter has lost some of his AC bonus he got in Beta but gained the ability to move at full speed in heavy armor which I think is still worth it. At least with my test builds the fighter was able to outperform the barbarian at the low to mid levels damage wise and can tank much better.
MonkI am going to have to see the monk in action before I can decide. In the beta, they start off really weak but became quite decent by the upper mid levels. I think someone taking a flurry of blows is going to feel some serious pain and you could probably build a very effective grappler. I'm still worried that they are kinda squishy like the rogue.
PaladinThe paladin went from one of the worst classes to one of the best. The paladin can now out tank the fighter, out damage the barbarian (at least when it counts), and heal almost as well as the cleric. Their caster level is no longer gimped and they can give bonus abilities to their weapon as the need arises. They don't have great mobility, low number of class skills, and still have the alignment restrictions but its all worth it now.
RangerAs a ranger fan I was unhappy with the 3.5 version. The fighter could out fight them in every way, their animal pet was useless, and their caster level was gimp. They now get favoured terrain as well as favoured enemy. They get a decent animal companion, and their caster level is now ok. As an archer I think it is now worth it although I'm still not sure the two weapon version is all that.
RogueThe rogue is like the barbarian in that it was pretty good before and only got a small upgrade. Rogues are now even better at what they do outside combat and while they have a few more options in battle they are still going to suffer at the high levels trying to get off sneak attacks.
SorcererSorcerers now have a lot more flavour with bloodlines. I still think the wizard edges them out a bit but it's closer now than before and I may change as I see them in action.
WizardWizards still rock but have been toned down a bit from Beta. The other specialties are now worth playing with conjuration and alteration still stronger than the rest.
I think an interesting party would be Paladin, Ranger, Sorcerer, and Bard.