Ryleh is totally evil, they starve kittens with the worst of them. Mind control? Calling C'thulu forth from the abyss? They are among the worst of the races, imo.
EA Ulm is a good nation, I have to disagree with KO. They are barbaric and opposed to civilization, but that's why they're good!
EA Pangea is also good, imo. They sacrifice virgins and destroy stuff in fits of bloodlust, but hey, wild nature demands blood sacrifice, and that stuff probably needed to be destroyed anyway.
I would say that MA or LA Marignon is among the worst of the nations as well. I know they summon angels and are very pious and relgious, but god doesn't everyone hate those kind of people. They are nazis.
I think good v evil is mostly a matter of opinion in this game, which is one reason why it is so cool.