Mya - I played an elf invoker for a little while. Sethrynus Sylldevar, was a Knight for a very short while but I found myself playing FL waaaayy too much so had to walk away for a while.
Anyhow, of the two main choices for invokers: human or elf/drow, I will list the main pros/cons:
Human: (Good aligned)
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can use the best non-rare healing item in the game even after they age.
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They will have a better base hp (especially if you 1-prac most things)
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no exp pen.
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best parry of all voker races.
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Run out of mana and flare themselves quicker than elves
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Less chance of dispel magic working
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AC will be less than elf (probably washes out with parrying ability)
Elves
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More mana = won't flare charged staff as quickly
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Master mana charge quicker
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Better AC than human
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Faster learning
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Less health than human
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Can't use the best healing item.
That's it in a nutshell. Just as a side note, I took down some pretty big opponents w/ Seth with only a few pdeaths (damn fire giant clerics). However, if I had to do it all over, I would either qrace an elf or go human.