There is evidence to show that brain sizes differ across the races, but these differences are relatively small. the average human brain size is around 1350 cm3. caucasians and asians on average have brains 4 cm3 larger than their african cousins, a minute difference, and this difference in size affects primarily the frontal lobe of the brain (responsible for processing emotions) there is some debate about the differences in the structure of their brains. (don't take this for granted though cos i can't remember where i got my info from!). aside from the obvious physical differences, the main differences between the races are hormonal esp. the sex hormones.
There is a theory that states that the modern humans arose in the caucasus after migrating north from Africa and then colonised the world, perhaps (they claim) 'africans' contain more 'primitive' genetic material than the rest of the human race due to interbreeding with other early hominids that stayed in africa, but the evidence points overwhelmingly to a common ancestor for all humans, though the facial characteristics of subsaharan africans particularly the natives of Zaire, may provoke speculations (though unproven) about the genetic history of the african race.