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I'd say go with iksar. I have never liked any character on any game as much as I like my iksar monk. I'm not saying that humans don't have any advantages, but the regen and ac for iksars just fits so well with the class.

Foraging, the often overlooked iksar trait, has helped me in a number of situations. One example is when camping Raster (FFFUUUUuuuuuuu). Having foraging meant that I had some extra bag space for bandages/throwing weps and I didn't really have to bring a bunch of stacks of food (and anybody who has camped raster knows this is an entirely possible necessity).

Human monks are cool, too.

As far as enough faction killing orcs. Maybe, I didn't even realize it but on my DE chanter, I killed enough orcs to get my faction up without really trying. Might be a different story with iksar though. I don't really bother with faction on my monk since I can just FD and sneak (plus I think that adds some coolness to the game).