Economics, Morale and Population, in that order. Also choose Federalist for the economic bonus.
Absolutely, positively.
Also even more important than your racial ability picks are the inherent abilities of the race you pick.
In DL your ability points cannot be used to increased inherent abilities, if you try you simply lose the inherent bonus and its value is replaced by whatever you selected with your ability points. In DA/TA this has been changed so that any ability points you spend simply get added to whatever inherent abilities that the race has.
The Economics, Morale and Population theme is in reality simply an economics theme because higher morale allows you to have higher taxes and hence more income for any particular approval level and since your tax income is determined by your population the faster you can grow your pop the faster your income will grow.
In line with this theme the hands down best races in DL are the Torians with the Drengin as a close 2nd. This is due to these races inherent 25% morale bonus which is free and better than you can get by spending max ability points (3 points = 20% morale bonus).
This allows you to spend 4 points on the 30% economics ability and 6 points on the whopping 70% pop growth ability which is the DL equivilent of Super Breeder, along with these races inherent 25% morale ability.
In any other race my choice is essentially 4 points for 30% econ, 3 points for 20% morale and 3 points for 30% pop growth.
All in all those are really the only two reasonable choices and the only real reason to go with a race limited to 30% econ, 20% morale and 30% pop growth is if you're choosing the Yor for their inherent miniaturization and starting techs or the Drath for thier inherent 25% diplomacy along with their free 50% defense and 25% miitary production bonuses. The other races in DL are basically just weak sisters to these four choices.