Updated for 4.2!
Night Elves: wow-update-20000.MPQ ----- Preview
Draenei: wow-update-20001.MPQ ----- Preview
***Update***
Night Elf, Draenei, Human, and Worgen all in one: wow-update-20099.MPQ
Night Elf Bigger: wow-update-20100.MPQ
Draenei Bigger: wow-update-20101.MPQ
Worgen isn't 100%, there are a couple of texture issues I'm not completely happy with but time to work on these is minimal at the moment so it will have to do until I have time to fix it.
All releases are stable and work on 4.2 - make sure you get VX2s updated patcher though, link below.
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Yes they work on live but the usual warning applies: USE AT YOUR OWN RISK, IF YOU GET BANNED FOR ADVERTISING YOUR TOON HAS BIG JUGS IT'S YOUR OWN FAULT. Keep your mouth shut and you'll be fine.
Sorry there are no Horde models suitable for release yet, I'm working on Blood Elves to get them out as soon as possible but Orcs and Trolls are really FUBAR.
Now, to make this work you will need this little program written by VX2 - this is for 14333 live release. If you need an older patch visit his topic.
How it works: Install VX2s program (WoWPatcher) into your World of Warcraft directory, run it, select "check all" and click apply. Close the program.
Put the files you downloaded from the links at the top of the page into your World of Warcraft/Data directory and go play happy fappy time.
If you get a crash that looks like this when entering an instance, use the repair tool in your main World of Warcraft directory. Log in and recover your toon. Then run VX2s app again. You will also need to put the .MPQ files back into your data folder.
Credits to:
Firstly VX2, without his app this would never work - you are a god man, massive props.
Secondly, Dyable for the skins and models.
This is not a straight repost of that topic, I had to strip out (pardon the pun) and repack all the MPQs to the current file system and make sure the animation files were working correctly - many of them are still not.