Ha! In a way, that's pretty close to my take on humans, though you put a heavier and thus more unique spin on it.

Are subtypes all they get? Because then they'd be incredibly weak. And why would a player, if they'd play a human even, NOT choose less than 5 subtypes? Subtypes grant very less, but they grant a few incredibly minor things anyway.

Possible subtypes: aquatic, dragonblood, dwarf, elf, goblinoid, gnome, halfling, incarnum, orc, planetouched, psionic, reptilian.