So, I really like the design behind the ancestries and ancestry feats. It reminds me of the racial paragon levels back in unearthed arcana, without the disadvantage of hampering your class progression, and I think that once polished, it seems will work really well with Eberron, my favorite setting ever. It will tons of fun to Homebrew!
Now, what I think that CAN be improved, is that unlike racial levels, it doesn't always feel like the choices are making the character elfier/dwarfier etc... I know many people are asking for "meatier" base stats, but I feel like those are fine - perhaps incorporating back some of the more physiological feats in the base ancestry but leaving the cultural ones as feats.
What I think that would really chance the perception that some people have that you're spending 20 levels buying your race back is adding more high level ancestry feats. Right now most are level 1 and are pretty basic (and perhaps could be bundled together?), but if now I could give my dwarf stoneskin as a power, or a gryphon companion or whatever, this would be really cool - I'd feel like I'm becoming a paragon of my ancestry!
Also, I think racial weapons are really neat, and I really liked the new ones. Those should be expanded, and perhaps easier to access - Every dwarf should have a clan dagger, after all.