I rate Improved Initiative as a must-have. You should have this by level 3 at latest.
Expect casters to optimize their initiative, and going first means you get a turn. That's my experience.
Half-Elf: Almost the entire reason for this is to qualify for Eternal Blade at 10 with no CON penalty. (Alternatively, be a Dragonborn Elf.)
Proof: "Elven Blood: For all effects related to race, a half-elf is considered an elf."