In 3.5 gnomes were bigger than halflings. But in Eberron, they are not.
From the Eberron Wiki:
Halflings: 3'10" - 4'2" / 75-85 lbs.
Gnomes: 3'4" - 3'8" / 50-75 lbs.
Gnome Description:
The notion that they should be pudgy or "rounded" in Eberron does not seem supported by sources. They sound more elven/pixiesh than dwarvish to me.Gnomes are one of the smallest humanoid races, even smaller than the halflings. They resemble their eladrin cousins, with pointed ears, chisled facial features, high cheekbones, and sharp jaws. Gnomes from Thelanis have a more wild look to them, while gnomes from Khorvaire wear the garb as many other races do.
Gnome skin tones range from tan to brown to gray. Their hair can ve almost any color, including white, blonde, brown, orange, or even green. Their eyes are glittering black orbs.
Like eladrin, gnomes are extremely long-lived, living 300 year lifespans. Unlike eladrin, however, gnomes start showing their age at 100 years old, with their hair going white and their skin show wrinkles and weather lines.
That said, what we see right now does look like a Halfling with a beard. I guess I expected that.
As for what's coming in the next 3 months:
1) 10th Anniversary Event/Free multi-character-level dungeon
2) Bug Fixes
3) Gnome Race / Deep Gnome Iconic
4) Updated Cannith Crafting
Looks pretty substantial to me. I know people want to know what's coming after that (since most of this has been mentioned before)... but quarterly letters are, obviously, going to reel in the horizon. And I'm not so sure that might not be for the best. When people are anxiously waiting a year for something I think it's inevitable that their expectations will exceed the current reality of this game and its development.