Of all the different optimization options for the hunter class, racials are the one that is hardest to change. Nevertheless, there are plenty of hunters out there willing to race-change to squeeze out a bit more DPS or to get a little bit closer to the rugged perfection the designers blessed on the dwarves. This means that there are plenty of people asking what the best hunter race is.
In Mists, we have the new racial of the pandaren, plus a few of the old racials changing. Add to that new abilities and new formulas for the old ones, and the common question of what the best hunter race is requires a new set of math.
Or if you don't have one of those cool glass whiteboards with neon markers like they have in TV to do your math on (I really want one of those), we can shortcut it with Zeherah's hot new beta spreadsheet.