Yes, there will be a few new options that you can choose to customize your race as well as the AI, like your initial alignment, which personality you have (AI code & flavor text), etc.
I asked for an entry field for the star name, but so far that has not been added. With modding, you should be able to create your own custom star system and name the stars and planets there.
There won't be a face editor for portraits. That would take way too much work for almost no benefit. You can't even see your character's portrait in game.
vigesimal, even now you should be able to use the load button on the custom race screen to load one of your previously configured custom races, as long as you've been giving your custom races different names.
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