I personally think that race is largely irrelevant in Skyrim. Almost all of the racial abilities are weak (eg Command Animal) or replicateable with spells (eg. Imperial Calm). Skill bonuses are not even worth the time to it takes to list them, since a 5 or 10 point deficit can be made up before you even finish Bleak Falls Barrow. This leaves Orcs and High Elves, really, as the only ones with actual bonuses or abilities that persist in effectiveness through all levels of play. The orc ability, for all intents and purposes, just sets your difficulty down one slot for one minute a day. If you don't like their look but want the effect, just drop the difficulty a notch and play whatever you want. The 50 point magicka bonus of high elves is largely washed out by spell cost reduction enchants in the later game. Therefore, I stand by my original statement that racial difference is entirely cosmetic, except for unarmed combat, I suppose.
So, to the other part of your question, if you are thinking about a one-shot style cutthroat, then obviously magicka and health in sort of even distribution, slightly weighted to magicka. I'll let others chime in with specific ratio thoughts, as I generally just go with what feels necessary at the time, and don't really plan stuff out as much.