Very good. Although I'm curious as to why you've yo-yo'd the hit dice for Magic-Users and High Elves. Also, Rangers don't deserve an extra hit die at first level, do they? Perhaps the Thief could drop to d4 and the Ranger could get d6?
I'd definitely separate Hobbits/Dwarves/Fighters, but I love what you've done here, especially separating the Noldor from the Sindar (or is it the Calaquendi from the Moriquendi?) and the Turn Undead ability given to the High Elves.