Well to me the elves are like fresh air that I cannot do without.
But the dwarves, they are a strange lot to me. First they are not even created by Illuvatar, so they started out diminished from whatever they originally were supposed to be. It is my opinion, that but for Aule there would be no such living beings. It is true Illuvatar, in his mercy and forgiveness allowed them to live and imbued to them characters and natures separate from the created being that created them. But to me they are always going to be the saddest of creatures. Always living in a dark place, sort of like a womb, dark and primeval, not brought forth into the light and normalcy as the other created beings, the firstborn Elves and then the race of Men.
They live in such a way to give me the impression they can dimly see the beauty of all creation but cannot come forth to partake and so they build replicas of the sun and moon and stars, of trees and other beautiful things as ones seeing them through the tissue of the womb, always surrounded by dark no matter how much light they pour into their works.
They are stunted in stature because the one that made them had not the power or mind to do other than make a poor imitation.
So I shall always have pain in my heart for them. They just seem so sad.