Homo sapiens sapiens is a very small species, relatively speaking. Compared to most mammal species, there is very little genetic variation across our gene pool. This is because of the bottleneck that we went through roughly 70,000 years ago, when there were only about 15,000 human individuals left.
http://en.wikipedia.org/wiki/Pleistocene_human_population_bottleneck_in_Africa
fullhamish, what is the point you're trying to make? It would take some serious selection pressure to speciate humans in a small enough number of generations that even history books would notice it happening. It takes very little breeding between groups, just a couple of times every few generations, to completely halt any speciation. You'd have to be talking some crazy rigid cultural standards that make the caste system in India look lax if you want to see sympatric speciation in humans. No, inuits and Africans wouldn't become like humans and chimpanzees, the amount of variation within humanity and the amount of variation between humans and chimpanzees is several orders of magnitudes off.
Race is a real concept in the sense that races basically represent large interbreeding superfamilies. One East Asian is more related to another East Asian than to a Turk, but an East Asian is more related to a Turk than they are to a Subsaharan African. It's been mentioned before, but yes, individual variation is a larger source for differences than is racial variation. Race is not a real concept in the sense that there are no firm boundaries between races, and you'd just be drawing arbitrary lines on a complex and varied continuum that is constantly shifting and intermingling, especially in modern times.
Yes, there are average differences between races, and while I think the rabid frothing-at-the-mouth liberal response to such notions is misdirected at best, the importance of such differences is overstated by racists. You can easily point out that there is a distinctly higher average IQ amongst people above 6' and those under 6' in height. You can show that there is significantly higher rates of criminality amongst men with faster beard hair growth. Shit, there are dozens of correlates that go ignored because society doesn't organize their ingroups and outgroups on the basis of these physical traits. Race is overstated because it happens that the same parts of us that face the climate are the same parts of us that face other people, such that the "significance" of differences in averages is more related to the saliency of the feature than its actuarial significance.
There are some serious bastardized understandings of evolution here, and that is definitely one of my pet peeves. Evolution does not act on the level of races, it does not even technically act on the level of the individual (as so many would falsely believe). It is simply the changing frequency of various alleles in a gene pool. Eradicating a race isn't evidence that you are evolutionarily superior, it's just evidence of genocide... because races cannot be evolutionarily superior to each other when evolution does not act on that level. There is no driving force behind evolution to create the smartest, strongest race, it is only to produce individuals that are well adapted to their environment such that they have relatively higher chances of reproduction. "Survival of the fittest" is not a moral prescription so much as it is a sorely misunderstood catchphrase. "Fitness" is defined in evolutionary terms as reproductive success. A celibate Nobel Prize Winner or an olympic athlete with an only child is by definition less "fit" than the welfare high school dropout single Mom with six brats.
I have more to say on the disconnect between "is" and "ought", but I have to go for now.