Thanks for kind words but I’m not really. If so I would be able to learn more myself and it’s not really anything new. Has all been there before and the only thing I cannot understand is that it’s not in Asset Store yet. Only always so limited in what you can do. 
Since Iam no 3d Artist and a real Unity beginner I probably cannot tell which version would work better. I have not even seen how the morphing system works and only know some version where you can disable mesh parts (that’s the bones one I guess)
I would be fine with both I guess if it’s provided in a way that we can alter the look of characters without scripting in the Toolkit. Of course the players later need such options. So if the morphing option only works ingame it might not work good to create npcs but might on the other hand offer much more flexibility for the players. But morphing also allow for very ugly characters, something that’s not so nice. Lets say I hope for a system where I have a wide range of different options that fit to each other. Like have 10+ noses, ears and whatever other part, be able to put skin, hair, eyes, tattoos and such colors. If that things are possible I think many people can be happy and if it gets more stuff after a while it’s even better.
But what might be interesting for sure if possible in such systems is to allow for face animations. So that if people want the mouth to move while talking they can do. But that’s a system I would not be able to use myself cause so much other things to learn first. But I guess it’s interesting for more professional people.
So lets take a look at different games. I personally think Dragon Age is a good example for how character creation could work. You have nice options to alterate a character but are not able to do ugly morphs. Of course there are more complex systems and those could be used as examples too but as long as such base exists everything additional is some nice extra I guess. Personally I just hope to see something having a nice graphics like you can provide but be able to alter it more and get no seams. So I have more available choices and also animations for the characters. Because that’s a big problem too, if you buy single characters you always miss animations. Idle, Strafing, Move backwards, Swimming, Climbing, every time there’s something missing. Same for weapons. I can simply not buy a model I like using a bow or sword and give it a spear for example, or switch to any other weapons. I can understand that animations cause work and if you always have to do them new for a new character it would cause the price to be higher and that’s another advantage if the base is same. So you only add them once and in overall have much more choices. Maybe allow for some animation request service where people can describe or show what they would like to see so if you sometimes have delays or free time you could take a look about the best and add them.
About other character base size just make sure once you create armor sets for all base bodies. So it won’t be a problem if you create a chainmail armor in a game what race the player would use. They can always wear it and have similar look. (If it’s not equal amount or same amount but different looks people would have the problem that the chainmail for human look like leather for dwarves maybe or if you prevent that using only the fewer versions you have, always looking same, if there doesn’t exist equal options)
About orcs I think you could use human head changes for a start. Changing the ears, mouth, eyes and nose can do much together with color already. I’m sure even if having the same base body you would be able to create nice looking orcs too for example. Dwarves of course or bigger like Ogre yeah that’s too different. Also if doing smaller or bigger version don’t forget about humans. There’s small humans too and Children should not be forgot I guess. I think it’s good to really test out how changes would work first before creating too much content and once sure it’ll work, create more. I can however not tell what content people want mostly but the created base for humans would allow use for fantasy/sci-fi/post-apo just everything for example. Cause clothing you could switch.
I think the first thing should be done is create the core. bodies, races, animations. Once those exist armors can created the way to always fit all the core. If you create humans/elves first but create dwarves 2 years later it might be more difficult to remember about each armor piece and create for those too. Or more difficult because something else changed. Don’t know sorry just guessing. 
More special options I can imagine for is wings, tails, horns. Those would allow people to create angels and demons and such the like and if you do more options for those things they could do even more, like having butterfly wings and do pixies or create creatures of their own mind. Horned Space Orc having Bat Wings or whatever. 
Ok uhm I feel I post way too much already. Sorry again. Last request. Not only asian look for characters.
It’s not bad or such but western looks can look so cool too. Just check some of those Skyrim shots for example.
Or some art from artists like Todd Lockwood
http://www.toddlockwood.com/galleries/new_art/10/between.shtml
http://www.toddlockwood.com/galleries/detail_1.php?g=dnd&p=02&a=villains&d=01&o=wide&b=0&t=Villains
Think those really show how good western fantasy can look too. Well actual it’s mostly about the male hairstyle. Either they have it very short or the asian look on what you created but raaarrrr. have no one watched Lord of the Rings or looked at book covers how cool males having other hairstyles can look too. 
Ok enough writing. Hope it was at least some fun to read it.
Keep on the good work and I will watch and hope to be able to buy something nice in some months. Hope you also received pm with that link infos and if ya need testers I’m available.