I think DDO needs to add the posibility for a race-change. The easiest way to do this would be bundled with a lesser Reincarnation.
Probably the best thing about DDO is the way every single mistake is correctable:
*Found out you spent your Enhancement points all wrong? Reset!
*Messed up yur build? Lesser reincarnate!
*Bought/Unlocked 32-point builds but playing on a 28? Greater Reincarnate!!
*Tried multi-classing and screwed it right on up? +# Hearts of Wood and Reincarnate!!!
Every single mistake you make can be fixed... except for race. If you aren't happy with the race you chose, tough. Delete the character.
Race is the last problem that can't be fixed by throwing lots of money at it.