Voldur: Half-elf, half-orc (3.5) If you read it, you'll want to play it. Promise.

[eftexar]

I would also be inclined to say that it is fine even if it is a bit more powerful, which it probably is. I think you have to compare it with his other races and not the PH races (if just barely). Still I have to agree with gareth on the ability bonus not being that big of deal here.
Steel wind takes a move action to recover, so I would think that sacrificing mobility would prevent spamming. If the enemy stands there clustered for several rounds in a row then that is the enemies fault. Besides spellcasters already have area of effects I'm sure.