dtgreene: I actually do think it's an interesting concept, but I think one could go further and apply it to humans as well. Make a Human class, and all humans are of that class, getting rid of the traditional human classes (fighter, mage, thief, priest).
Depending on how the human class is designed, this could either result in a common magic world (where even commoners can use magic), or a world where magic is the sole domain of non-humans, either of which is a different dynamic than conventional D&D.
(I could point out a couple video game RPGs I've played where magic is solely for non-humans; SaGa 1 (GB) gives playable humans 0 mana (but you fight enemy humans that have non-zero mana and spellbooks), and Defenders of Oasis (GG) has a playable genie in the party, who is the only spellcaster you get in that game.)
pimpmonkey2382.313: They basically are a class in basic/classic. A fighter is always a human, a magic user is always a human, cleric is always a human.
Except for one difference: The three classes you mentioned might be only for humans, but (for now assuming "thief" doesn't exist as a class) that's more classes than other races get. My idea is to give humans just one class, just like the other races get only one class.
One other idea that I have, though that would increase the complexity of the game a bit: Introduce 3e style multi-classing. Once the character reaches a certain level or so, the character can choose to, instead of continuing to advance in her racial class, choose to advance as a class such as fighter or magic-user. This would, in turn, allow players to focus their characters differently, perhaps allowing an opportunity to break racial stereotypes, but the character's race would still matter.
Of course, if introducing 3e style multiclassing, there's still the issue that multiclass spellcasters tend to have rather weak spellcasting abilities, so there'd need to be some mechanic to deal with that. For example, maybe make spells less dependent on caster level, or have other classes contribute to caster level.
(One could also limit characters to one racial and one other class if one doesn't want multiclassing to get too ridiculous, and/or one could treat half-elves (and other half-breeds) as multiclass characters (though for the latter case, 1e/2e multiclassing starts to feel more appropriate.)
By the way, I have decided that I don't really like having priest and thief as classes. I find that thieves tend to either be mandatory, useless, or dependent on positioning (which slows the game down as positioning now has to be tracked). As for priests, I don't like having healing magic be the exclusive domain of religion; I would like to be able to play a healer (and a primary healer, not the weak healers that are traditional in D&D) who learns and casts spells through study rather than belief.