I think Bosmer would work out best: shorter in stature (Link is constantly bashed as "a kid" or not being large in stature) and sharp features. Try to find the biggest set of eyes you can find, make them green (it seems like his eyes are green more often than blue). Try to make his skin paler than default so he looks more caucasian than...whatever you'd consider default Bosmer to be. Make his hair flax colored, and hopefully that'll make it look best for you.
Too bad Bethesda didn't follow up with their promise of making you able to have a shield in either hand. Link's always had his shield in his right hand, sword in left before the Wii installments came out (they figured it might confuse right handed gamers, who make up the majority, if they swung with their right but Link swung his sword in his left hand. That's actually one of the excuses as to why the entire world of Twilight Princess is mirrored (where normally you'd go left at one spot, you instead went right) in the Wii version as opposed to the Game Cube version (where Link is his traditional left handed self) --- The World's Most Interesting Man: I don't always herp, but when I do, I derp.