I personally like the whole races idea they got going on in FFTA and in FFXII.

But maybe they should bring back Elves and Dwarves! Or would that make it too LoTRish? Well, maybe forget the elves, but keep the classic FFIV/V style dwarves (As opposed to the original FFI ones and the FFIX ones) and maybe call them something different from Dwarves.