As a DM and a world-maker, I don't like to play favorites with my races. Maybe this is a cop-out answer, but its true. I value each of the peoples of Arunia just as I value each of the races of vanilla AD&D. They're like my children in a way. The dourness and glumness of the dwarves, the deep pathos and intense emotions of the elves, the rural contentment of the halflings, and the forest-dwelling non-stop-talking of the gnomes speak to me each in a different way.
I suppose, from that group, elves and dwarves have always inspired me most since they are the ones with sweeping histories and stories of great battles to tell. Dwarves reluctantly chanting a death-song as their hilltop is surrounded by a sea of goblins, elves humming war-melodies and braiding bells into their hair to show that they are marching to battle... those are a bit more epic than the halflings or gnomes.
Yet still, I love also the beautiful country of the halflings where they farm and rest contentedly. The Shire is a deep-seated memory for me, and I've tried hard to include a sort of pseudoshire in the 10th Age. Ahh well. I just cannot pick amongst my children creations.