Wits is a very important attribute. Starting first is a huge help in winning fights.
No it's not. It's a secondary attribute. You want to have your max in either finesse, strengh, intelligence depending on your character. But wits, no one will ever max it.
And since you can't put more than 30 points in one attribute, in the end, elf rogue will have 42 finesse where human can only have 40. That's 10% dmg lose.
And by saying :
I have Ifan as "Knight" and Lohse as "Ranger" and they are absolutely fine.
You're missing the point. Maybe they're ok, but another race will do better. That's why the race are not balanced.