Shield Dwarfs get medium armor proficiency. Humans get light armor proficiency, shield proficiency, polearm proficiency, +25% carry weight, and an additional skill. Half Elves get light armor proficiency, shield proficiency, and polearm proficiency.
Which means that for a caster class, those free armor proficiencies could become rather enticing. Of course, they're of no help whatsoever if you're looking to do a martial character because it won't stack in any way with class bonuses. A Shield Dwarf fighter is objectively worse than a Hill Dwarf fighter. A Wood Elf fighter is objectively superior to a Wood Half-Elf fighter,