Shieldbreaker's links are a good starting point for this topic. I can give some updates on the race development: basically, fairies are blocked by other things that need to be done first.
Fae - We now have the needed fairy animations (just the bare-bones necessities of flying, landing, etc.), but I still need to figure out some of the systems involved in fighting-while-flying. Because it's insanely abusable atm. Fae also have a custom death system, and to integrate that into the game I need to finish changing the REGULAR player death system -- that is, changing how "Enter the Light" works, among other things. But I know that players use "Enter the Light"'s infinite-travel-back-to-Serbule feature as a fast-travel system, and I don't want to diminish that until we have other travel tools in the game. So I've been pushing on getting travel systems in. The biggest remaining one is horses -- at this point I think horses probably have to happen before fairies. And horses have their own set of bottlenecks -- the new GUI has to come online before horses, for instance. So I don't know when fairies will be ready. Their newbie area also needs lots more development, but that's fairly straightforward. (And interesting -- they have an unusual home place.)
Orc - here we ran into problems with our plans of using Gazluk as the newbie area. Basically, I want to let new orcs run around inside Gazluk Keep -- but it can't be the REAL Gazluk Keep, because (for instance) there's valuable level 70 loot just lying around in there. I'd planned to make an alternate version of the place, with different spawns and stuff for the new orcs. But the tech to do that optimally ended up being tricky, because other technical features need to be completed first. Orcs are still likely to be the first new race to come online, though.
Dwarf - not very far developed yet and will almost certainly be the last of the three to come online.