I love the lore for all the races, but Redguards are probably my favorites simply because they are a "offshoot" of humans not initially of Altmoran/Nedic/Nordic stock and that's pretty cool.
Also the whole Ra Gada thing where every Man, Woman and Child who could hold something as a weapon WAAAAAAAAAAAAAAAAGH!'d and overran the toughest, hardest race in the world (orcs) and sent them packing on a trail of tears.
Their traditional distrust of magic is pretty cool, and I really like the fact they really are just the best Adventurer Class. They go boldly and kick lots of ass. --- Believe.