I know you are new here so I'll inform you on how things work.
1. Elemental is the (don't know how to say it) overlapping name just like Might & Magic part in Might & Magic: Heroes VI is. It's there so we know which universe the game is in.
2. Brad said once that the difference between a Druid and a Vampire is "graphics and stats" <--- He said it in a more advanced way but that is what I got out of it.
They wanted the races like that so we're stuck with'em. They are gonna differentiate them though. Trogs are big and powerful and can wield heavy armor and two-handed weapons (they can carry more "points"). Urxen are like goblins and can't carry much at all.
Actually, Brad described the Fallen races once like this:
- Trogs (Orks)
- Urxen (Goblins)
- Magnar (Dark Elves)
- Resoln (Wraiths)
I tried to find the developerjournal but it's hard but I found this
There is a link to a picture which explains the race & faction relations but you can't see the image because Brads account has been suspended.
3. They like the graphicsstyle. It's also unique which helps make Elemental memorable just like Borderlands. That graphics is also "timeless" like World of WarCrafts in as the years pass it doesn't degrade as fast as realistic graphics do.
The graphics use ShaderModel 3.0. They can add SM 4.0 and 5.0 if they want which would improve it but that will be limited (SM 4.0 was promised for War of Magic).
4. Costs too much. In Europe they get like 1cent per game sold which is insulting. Digital all the way.
6. Actually they will lose money on Fallen Enchantress 
