Races have different starting skill bonuses and racial abilities just like Oblivion and Morrowind. Honestly I NEVER paid attention to the racial attributes, just skills and abilities (since that is what is ACTUALLY important)
This.
A.) Saying that attributes were removed provides an incomplete image of the picture...Perks, skills, and stats all work together in a more detailed and involved manner than the rather boring (in my opinion) attribute system. The attribute system added numbers to skills...whoopy. Worthless.
B.) Perks add character traits, and modify skills and your character's capabilities
Given these two points, how can we postulate that this will effect races? Will, that's tough. We don't know yet. Assuming that all races will be the same goes against EVERYTHING Bethesda has said though, so let's toss that sort of pointless babble out the window. It's silly and inaccurate.
What IS likely? Race-specific perks, different health/stamina/magicka values for different races, different base capabilities, different proficiency with certain skills.
All of this reflects what the attributes could never really exemplify in a character. Do you see what I mean? This system allows for us to better express our character in a meaningful way, not just numerically =)
I think it'll highlight the differences between the races in a much, much more pronounced manner.
Bethesda wouldn't remove the attribute system without doing the above-- they've said they want to stress the differences between races, and they've said "These are the new game mechanics". Naturally, these two have to work together. That's the only option. So that's what will happen...and it sounds like the best way to represent differences to me.
Given the above, I'd say it'll be the ones we expect it to be: Orcs will be powerful physically, Redguard will be solid warriors (weaker in Magic). Khajit will likely get a "night eye" perk, and stealth benefits. Bretons will be magically inclined and skilled warriors, so on and so forth.
Hope this helps (pardon my English throughout, having trouble speaking it today heh)