It is first important to define precisely what the words "PAY-TO-WIN" mean before people throw this term around.

What it means is literally what it says - one can PAY TO WIN the game.
The next question is then what is classified as "winning" in an MMO.
Well...is it;
1) Getting to the 'end' of the quest-line and reaching max level?
2) Getting to the 'endgame' dungeons?
3) Getting the best loot?
4) Forming the best guild?
5) Being the top team in the world?

I would argue that it is 1-3, maybe 4. Everybody first finishes the quest line to level up to the max level, and then does dungeons in order to obtain better gear in order to complete harder dungeons, then if you are really dedicated you can form the best guild and if you are SUPER dedicated you can become the best team in the entire world.

However, all of this being said - none of the pre-order bonuses directly contribute to the overall 'winning' aspect.
The only real "pay-to-win" aspect is the rings of Mara (which are hardly ever mentioned as such) and even it is an insignificant advantage.

The Imperial race does not allow one to 'win' any more completely than a standard-issue class - given two identical people with identical gameplays - the Imperial and the Argonian will reach max level and 'win' the game.

The horse does not allow one to win more completely than a standard-issue player either - given the same case as above both players will reach max level (hell - they will even both have a horse)

The ring of Mara is the only thing that provides some benefit - some "pay to win" aspect - BUT ONLY FOR #1 mentioned above!
Once a player reaches max level - that benefit is null - and if you are like most MMO players - you will believe that #2&3 are the most important
Sure you can get to max level slightly faster if you shell out a couple bucks - this is not a new practice most games do this in a cash shop. IE pay 3 bucks for a day of double exp.

That being said - this does not include the PVP aspect of the game - in which case a horse is rather important. But there are two issues with this

Firstly, this is how the real world would work - back in the days of horses and swords bows&arrows - only the rich and powerful would have a horse for battle - you wouldn't see the lowly peasant turn to the king and go "ya know what this is not fair...why do you get a horse and I don't?!"

Secondly for all those who played PVP and are claiming that 'whoever has the most horses wins because you get to stuff faster' is neglecting the fact that they are playing in the BETA. Most people will be playing PVP at a higher level where they have lots of money and can afford a horse

So it won't be like the beta in which one only saw horses from those who paid for the CE (giving an unfair advantage to whichever alliance purchased more CE's)

However - I do believe that making the imperial class a "pay only" race is a low-blow to the fanbase. I don't even like the Imperials but I realize they are an integral part of SOMEONE's experience with the ElderScrolls series - someone out there always rolls an Imperial and really enjoys roleplaying THAT SPECIFIC race. To make it that one has to pay extra to fulfill that fantasy is not cool (and yes, I'm sure they CAN afford the extra 20 to play Imperial if they enjoy it that much - but that doesn't mean they should HAVE to)
They should instead change that specific CE bonus to something else that is cosmetic or otherwise a small advantage - hell even like 10% off the cash shop might be a good incentive

In short / TL;DR, absolutely NONE of the CE bonuses are "P2W" - at least not after the first 2 months (and who REALLY cares about who has an advantage in the first two months only. I'd rather save 20 bucks than have a 2 month advantage. BUT it was uncool of ZOS to make Imperials a paid-for race.

K.

your name is perfect for this topic