Awesome, thanks for the tips!
Good to know about the light armor thing - that actually makes me think Orc wouldn't be a good race for this (for me), because that +10 in heavy armor is too much of a boost for me to ignore, and I'd probably work that up with my Orc rather than light armor.
Khajiit seems to have some nice synergy, yeah - although going from cat to dog seems a bit funny.

I have thought about Bosmer for this actually... going with a ranger type character, who uses swords & bows. Werewolf form might (?) make him a bit more viable in melee. Plus, the whole carnivore/hunter thing seems like it would be a great fit for the "savage" wood elf lore.
Skills probably something like:
One-handed
Light Armor
Archery
Sneak(?) - maybe only a little here, to keep things interesting
and Alchemy as support, for poisons and the like.
My only reservation is, how would this character justify joining the Companions? Sees like he would be pretty independent...
What do you think?