Are we limited to only humans as our dominant species? What tech level of medieval we should think about? How would magic and fantastic elements factor into this?

Basically these are the typical 3 questions for fantasy NRPs. Tech obviously matters for stuff like mechanics (clockwork, etc), navy, plate armor and gunpowder. Magic would determine how dominant spells are in the setting and how much you can use fantastical elements and creatures. While the last remaining question is basically for all those people like me who want to play as dwarves, elves, orcs or other fantasy races.