Sounding pretty good! How do you propose to handle durational effects? Charms, curses, potions, poisons, someone on fire, someone encased in ice, etcetera?
Good question.
Creatures afflicted by conditions with non-permanent durations will be entitled to some kind of roll or skill check at the start of their turn in order to shake them off. Most conditions will give the afflicted a bonus on the roll based on the number of times they've failed it, ensuring that characters don't stay (poisoned, on fire, stunned) forever, etc.
For example, a character on fire gets to roll a d6 at the start of his turn, and gains a +1 bonus on the roll for each time he's failed it since he's been on fire. If the roll is 6 or higher, he's no longer on fire.
I like the FAQ. Will there be drow?
At release: probably not - we'll be releasing with the basics (human, elf, dwarf, hobbit, etc.) After release? Absolutely. Given the incredible popularity of "dark elf" races, it'd probably be one of the very earliest race expansions.