My style guide would be as follows:
1. Close to natural proportions for height 7 1/2 to 8 heads. (unless you're doing a dwarf or other size specific race)
2. Focal areas like the face, hands, etc. should be fully realized and rendered while the rest blends into a more stylized and graphical style (hard lines and color blocks like ALH's design)
3. Use slightly exaggerated body shape, like cherry's design, to relay character. Maybe not as exaggerated as cherry's, but enough to notice.
I personally would like to see, era wise, a play on some medieval/renaissance/baroque/asymmetrical fantasy designs. Also, ALH's design really has me wanting to grab them in cold weather gear: think furs, layers, metal. However, skin can still be exposed as much as necessary, maybe your character just likes it that way.
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