Some monsters might have different movement speeds. Because loot is really important factor experience wise the movement rate is affected propably the most because of it?
You could give halflings a bonus though. For example if movement rate is equal to all the characters halfling would be the last option monster to catch? This way halfling would be always few running steps ahead + it could meta gaming also mean the smaller size. It's harder to catch generally.
Dwarves are sturdy so they can carry more what affects movement penalties in more generous way.
I personally was thinking some time ago why movement is not affected by race and attributes but then I thought what the heck this means less book keeping!
If you start to modify movements, then you start to think why attributes don't affect skills etc. etc.
LotFP is ment to be simple game to run by the rules. It doesn't matter what characters can do but what they do (like Raggi has stated). I like to keep LotFP simple!
"Man has come to dominate the planet thanks to two essential traits. One is intelligence. The other has been the absolute willingness to kill anyone and anything that gets in his way." (Stephen King)
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