tl/dr -- There is an expressed dev desire to make races randomly. A simple way to do this is define the random as within general limits for a race.
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One of the neat things about Master of Orion 2 was the race definitions. Each race had a set of merits and flaws, bonuses, things it was better at, what have you.
The thing that made it really neat was that the definitions would change from game to game. Sure the darloks were always the sneaky spies, and the kracken had stupid high breed rates, but a lot of the details changed about them from game to game.
For example, one game the Darloks would get +10 stealth, while the next time they would get +7 stealth and +3 diplomacy.
Now, DF doesn’t seem to give a flying flip about exacting levels of game balance. The advantage here is that you can say a dwarf is generally tough (+2 con) but in some worlds they aren’t so tough (+1 con) and in some they are extremely tough (+3 con)
What this allows you to do is play with pseudo random races. Rather than say ‘I’m going to allow completely random races, and who knows what they’ll do’, allow players to create races with random points. In some games, dwarves will be tougher than others.
Here’s a few ways to leverage this:
Difficulty modes: There should be some idea of what a balanced character is. Say I cost out every thing the race could have and then give the processor a point total. When it generates the world, it will actually define all the points, spending the points you give it at random. (Just like MOO2 did, only with the race defs in the raws) That being the case, if you generate a world on ‘easy’ mode, the dwarves could be given extra points to start off stronger.
Guaranteed roles: It’s hard to gel random races with the desire to always see the elves as some take on the hippy types, the dwarves as the tough digging type, etc. By defining your races as having random ranges, you randomize power levels and balance. You also create a unique(r) play experience. What you don’t do, is take away the roles that the races are designed to fill.
Tweaked Political Balances: Sometimes the humans win, sometimes the goblins. A small change to both races can quickly throw the civs into a new balance.
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This isn't meant to be a 100% this should happen suggestion, more like a 'this is one way to do this' kind of think about it thing.