I've been putting a lot of thought recently into how the races will marry up in this conversion. There are 7 main races that you meet in Starflight - this leaves a lot of Mass Effect races out... Thinking about how they react to the player (and each other), I've put together a little list of changes I intend to make. The most important ME races are all covered, and things kind of fit. Any major issues can probably be written around when changing the script though.
Below are the ways I plan to convert each race for this mod. And check out the beautiful artwork ripped from the Starflight manual. They don't do game-art like this anymore!
The Mechan -> The Geth
The Gazurtoid -> The Asari
The Thrynn -> The Krogan
The Elowan -> The Salarians
The Spemin -> The Turians
The Veloxi -> The Volus
The Minstrels -> The Hanar
So that is how I plan to change the SF races to those of ME. I've got all the main citadel races covered, but a few side races are missing (Elcor, Drell, Vorcha, Quarians, etc...). I may look at adding more, but I think that may be way beyond my skills. But due to the text-heavy nature of the game, I'm sure I can slip in some references to the others somewhere! If you have any clever ideas on how to convert the races that you find superior to mine, please let me know in the comments.
Now I've got a plan, it's just the HEFTY task of changing in-game text and graphics! If anybody is any good with pixel-art, and wants to help out, please let me know.