Oh yes, definitely better beards required. I was just playing around with the male dwarf in character creation again as a result of this thread, and the only contender for me is the plaited long beard, style 10. There's a knotted beard, style 12, available for humans (and maybe some other races - I didn't check), that could be a contender as well but that doesn't seem to be available for dwarves. What's with that? Surely dwarves should have access to all the coolest beards.
EDIT: Plus, while I think greying makes the fuller beards look much better, beards turn grey so much more slowly than hair as the slider moves that it just doesn't look right unless your dwarf is bald or almost entirely grey. Going off bearded men I know, if anything it tends to be the other way round and beards are greyer than hair.
EDIT 2: And the beards seem to move really oddly, which would be distracting.
But the biggest killer for me is still the voice, so this guy is going to have to wait for his playthrough until there's another voiceset. And as you can see, I'm also a proponent of not messing with a classic when it comes to male dwarves.