The fluff is intriguing and helps create Zeidians with interesting and distinct personalities. The race is balanced and has an interesting feature (save against being surprised)and the racial paragon path is spot on, amplifying the feel of the race. The racial feats further enhance the particularities of the race, without ever falling into the (seemingly common) 50' deep pit of brokenness. The crunch is solid (although you can't take immediate actions on your own turn, so Backhand Slash should be a free (or minor) action) but unfortunately holds no innovative ideas.
Overall the Zeidian is a well-made race which can easily fit into any campaign, either as is, or it should be very simple to file off a few serial numbers and make it a elven (sub-)race. Or you could change the +DEX into +STR, and the rest of the crunch/fluff could fit just as well for the Dragonborn in your campaign. This is a PDF, that I am definitely going to be using.
Rating:* * * * *
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