Don't forget the less gifted races that advance level MUCH faster such as orcs and especially kobolds. Based on the same type of combat experience, a kobold's chance of making level is about 4X higher than the elf, class and level being the same. Of course, you don't start with the beautiful characteristics, but beauty is in the eye of the beholder when your kobold mage is level 20 and your handsome and immortal elf is level 6.
Orcs are really great fighters, but you must be EXTREMELY careful about aging them. All players start to lose stats gradually when they reach HALF their maximum age. For orcs, their maximum age is 40, so they start losing their teeth and going bald in their twenties.