Dwarf or Night Elf, the difference is mostly cosmetic. Although they both have advantages. Night Elves have Fade, it's like stealth only you can't move...but you can just stand around and wait for something to get close then you unload on em. Dwarves have Find Tresure and an increase to the Guns skill.
Profession wise:
Leatherworking / Skinning is good because you can make your own armor and be able to supply yourself with the materials
Herbalism / Alchemy is nice, you can make health/mana potions and eventually ones that increase stats, resistances and critical strike chance (which is a big one for hunters)
Blacksmithing - no use to a hunter except for weapons, but only melee ones
Engineering - by far the funniest profession available. The first time you throw out a target dummy you'll be in tears. Exploding sheep get a few chuckles too (Battle Chicken
). You can make guns and ammo for yourself, scopes as well which increase damage of bows and guns. I'd prob put engineering as my first choice profession for hunter. Later in the game you get an item that you can use to ressurect comrades, useful considering hunters can feign death and be the only survivor of a fight.
Enchanting - very lucrative profession, but difficult to skill up and lots of competition.