Wits is a very important attribute. Starting first is a huge help in winning fights.
You are exaggerating a lot with the humans weakness. I have Ifan as "Knight" and Lohse as "Ranger" and they are absolutely fine.
However, you are correct that elves are a bit too good overall. Getting skills from eating is very nice. Also getting a free ap in a fight is ... extremely nice. Too nice, as ap is the most precious resource ingame. I play a male elf as main and have Sebille as rogue. I do not use Flesh Sacrifice on my main and can feel the difference. It is extremely strong to have Flesh Sacrifice.
did you forget they also get 10% INCREASED DAMAGE as well as ap? it use to be 20%, seriously who the hell thought thats a good idea?