This is something that has been on my mind lately. I'm currently working on building my 3D art profile, which is emphasizing character art. I decided to do a project that I call "EQ Redeux" as I'm going to be recreating some of what I consider the iconic race/class combos from EQ (some decisions are more of a design choice for diversity). Any way, this is what I have laid out currently.
Bard / Half Elf
Cleric / Half Elf / Female (praise Lolth!)
Druid / Halfling
Enchanter / High Elf
Magician / Gnome
Monk / Human
Necro / Iksar
Paladin / Dwarf
Ranger / Wood Elf
SK / Ogre or Troll
Shaman / Barbarian
Warrior / Ogre or Troll
Wizard / Erudite
I was able to start a few weeks ago and haven't gotten too far due to work and family, but here are a few pics of where I'm at with my first toon, which is DE cleric. Her skin has a long ways to go still, and will lighten up as I go. I have some armor made, but I'm not ready to setup render shots.
Head shot
Front
Back
I'll create a post when I finish her, and the others. So if anyone has any interest they can check them out.